National Bank of Canada FI Sells 83,710 Shares of CVS Health Corporation $CVS

by · The Markets Daily

National Bank of Canada FI trimmed its position in CVS Health Corporation (NYSE:CVS – Free Report) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,177,825 shares of the pharmacy operator’s stock after selling 83,710 shares during the quarter. National Bank of Canada FI owned 0.09% of CVS Health worth $81,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock worth $28,264,000 after purchasing an additional 6,615 shares during the last quarter. Red Mountain Financial LLC acquired a new position in shares of CVS Health during the 2nd quarter worth $293,000. AE Wealth Management LLC lifted its position in shares of CVS Health by 607.5% during the 2nd quarter. AE Wealth Management LLC now owns 242,221 shares of the pharmacy operator’s stock worth $16,708,000 after buying an additional 207,984 shares during the last quarter. Vanguard Group Inc. boosted its stake in CVS Health by 1.7% in the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock valued at $8,305,132,000 after buying an additional 2,063,737 shares in the last quarter. Finally, WBI Investments LLC grew its position in CVS Health by 388.3% in the first quarter. WBI Investments LLC now owns 73,562 shares of the pharmacy operator’s stock valued at $4,984,000 after acquiring an additional 58,496 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 $79.45 on Monday. The company has a market capitalization of $100.85 billion, a price-to-earnings ratio of 209.08, a PEG ratio of 0.78 and a beta of 0.48. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $85.15. The stock has a fifty day simple moving average of $78.97 and a 200 day simple moving average of $71.98. The company has a quick ratio of 0.63, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Sell-side analysts expect that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. CVS Health’s payout ratio is 700.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CVS shares. Morgan Stanley raised their price target on shares of CVS Health from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday. Sanford C. Bernstein raised their target price on shares of CVS Health from $86.00 to $87.00 and gave the company a “market perform” rating in a research report on Friday. The Goldman Sachs Group upped their price target on shares of CVS Health from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. TD Cowen raised their price objective on CVS Health from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, Barclays upped their target price on CVS Health from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.71.

Read Our Latest Report on CVS Health

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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