CVS Health Corporation $CVS Stock: Eurizon Capital SGR S.p.A. Increases Position

Eurizon Capital SGR S.p.A. boosted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 256.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,035 shares of the pharmacy operator’s stock after buying an additional 231,740 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in CVS Health were worth $27,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CVS. BlackRock Inc. purchased a new stake in CVS Health during the 2nd quarter worth approximately $12,747,462,000. State Street Corp grew its holdings in shares of CVS Health by 26.3% during the second quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator’s stock valued at $7,751,205,000 after buying an additional 15,604,883 shares during the last quarter. Bank of America Corp DE increased its position in shares of CVS Health by 148.0% in the 2nd quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator’s stock valued at $2,398,868,000 after acquiring an additional 13,836,701 shares during the period. Pzena Investment Management LLC purchased a new position in CVS Health in the 2nd quarter worth $1,217,558,000. Finally, Wellington Management Group LLP grew its stake in CVS Health by 49.8% during the 2nd quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator’s stock valued at $3,496,725,000 after purchasing an additional 11,233,381 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE CVS opened at $89.37 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.85 and a quick ratio of 0.66. The stock’s 50 day simple moving average is $89.65 and its 200-day simple moving average is $89.09. The company has a market cap of $114.34 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.78 and a beta of 0.58. CVS Health Corporation has a 1-year low of $69.51 and a 1-year high of $110.68.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 4th. The pharmacy operator reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.44. The firm had revenue of $108.40 billion for the quarter, compared to analyst estimates of $104.72 billion. CVS Health had a net margin of 2.62% and a return on equity of 13.65%. CVS Health’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. As a group, equities research analysts anticipate that CVS Health Corporation will post 8.26 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 22nd were issued a $0.6650 dividend. This represents a $2.66 annualized dividend and a yield of 3.0%. The ex-dividend date was Thursday, October 22nd. CVS Health’s dividend payout ratio (DPR) is 30.97%.

Insider Transactions at CVS Health

In other news, EVP Prem Shah acquired 23,855 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average price of $83.89 per share, for a total transaction of $2,001,195.95. Following the acquisition, the executive vice president owned 88,516 shares of the company’s stock, valued at $7,425,607.24. This represents a 36.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. BMO Capital Markets set a $112.00 price target on shares of CVS Health in a research report on Wednesday, September 9th. Weiss Ratings raised CVS Health from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on CVS Health from $111.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Leerink Partners reduced their price target on CVS Health from $112.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 5th. Finally, Barclays cut their target price on shares of CVS Health from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. Twenty-three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $107.54.

Top CVS Health Stories

Here are a few of the latest stories about CVS:

• Neutral Sentiment: Wells Fargo lowered its price target to $112 from $123 but kept an Overweight rating, signaling a reduced valuation outlook while still seeing potential upside. Wells Fargo analyst rating
• Negative Sentiment: The separation may not ease political criticism: lawmakers and critics argue that retaining CVS’s other lucrative businesses, including its pharmacy-benefit operations, would leave key drug-pricing concerns unresolved. CVS is planning a huge corporate breakup after drug price criticism
• Negative Sentiment: Carving out the retail pharmacies could involve significant execution costs and operational risks, leaving uncertainty about whether the restructuring will deliver the anticipated value. Can CVS Health’s 2028 Split Unlock Value Despite Execution Risks?

CVS Health Profile

CVS Health is a U.S.-based health care company that operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance and other health services. Its businesses include CVS Pharmacy, pharmacy benefit manager CVS Caremark, and Aetna, its health benefits division. The company also provides care through MinuteClinic walk-in clinics and health care businesses including Oak Street Health and Signify Health. Its services span prescription fulfillment, pharmacy benefit management, health insurance, primary care, and in-home and community-based care.