CVS Health Corporation $CVS Shares Purchased by Davidson Investment Advisors

by · The Cerbat Gem

Davidson Investment Advisors boosted its holdings in CVS Health Corporation (NYSE:CVS – Free Report) by 29.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,566 shares of the pharmacy operator’s stock after purchasing an additional 57,733 shares during the quarter. Davidson Investment Advisors’ holdings in CVS Health were worth $17,698,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CVS. GAMMA Investing LLC boosted its holdings in CVS Health by 198.5% in the first quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator’s stock worth $1,265,000 after purchasing an additional 12,415 shares during the period. Ritholtz Wealth Management acquired a new position in shares of CVS Health during the first quarter valued at $746,000. Mission Wealth Management LP acquired a new position in shares of CVS Health during the first quarter valued at $259,000. Janney Montgomery Scott LLC boosted its holdings in shares of CVS Health by 21.7% during the first quarter. Janney Montgomery Scott LLC now owns 315,098 shares of the pharmacy operator’s stock valued at $21,348,000 after acquiring an additional 56,156 shares during the period. Finally, Sagespring Wealth Partners LLC boosted its holdings in shares of CVS Health by 88.4% during the first quarter. Sagespring Wealth Partners LLC now owns 12,741 shares of the pharmacy operator’s stock valued at $863,000 after acquiring an additional 5,980 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 1.4%

CVS opened at $80.75 on Thursday. The business has a 50 day moving average price of $73.30 and a 200 day moving average price of $67.92. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $81.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The firm has a market cap of $102.42 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60.

CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period in the previous year, the company earned $1.83 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is presently 74.30%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVS shares. Weiss Ratings restated a “hold (c)” rating on shares of CVS Health in a research note on Tuesday. Truist Financial set a $92.00 price objective on shares of CVS Health in a research note on Tuesday. Wolfe Research boosted their price target on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Finally, Zacks Research cut shares of CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $81.05.

View Our Latest Report on CVS Health

Insider Activity at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.22% of the company’s stock.

CVS Health Profile

(Free Report)

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.

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