Jupiter Asset Management Ltd. Makes New Investment in CVS Health Corporation $CVS

Jupiter Asset Management Ltd. acquired a new stake in shares of CVS Health Corporation (NYSE:CVS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 108,900 shares of the pharmacy operator’s stock, valued at approximately $7,512,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Avion Wealth lifted its stake in CVS Health by 99.0% during the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of CVS Health during the 2nd quarter valued at about $30,000. Bell Investment Advisors Inc lifted its position in CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 248 shares during the last quarter. Roxbury Financial LLC boosted its stake in CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 202 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 377 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $79.32 on Friday. The company’s fifty day simple moving average is $77.61 and its two-hundred day simple moving average is $69.81. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $85.15. The firm has a market cap of $100.69 billion, a PE ratio of 208.74, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 700.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CVS shares. Weiss Ratings reissued a “hold (c-)” rating on shares of CVS Health in a research note on Tuesday. Barclays increased their target price on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Jefferies Financial Group boosted their price target on shares of CVS Health from $92.00 to $98.00 in a research note on Thursday, October 30th. Wall Street Zen lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Leerink Partners lifted their price objective on CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given 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 a consensus target price of $89.41.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.22% of the company’s stock.

About CVS Health

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.