NorthCrest Asset Manangement LLC Cuts Stock Holdings in CVS Health Corporation $CVS

NorthCrest Asset Manangement LLC cut its stake in shares of CVS Health Corporation (NYSE:CVS) by 54.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,376 shares of the pharmacy operator’s stock after selling 48,921 shares during the period. NorthCrest Asset Manangement LLC’s holdings in CVS Health were worth $3,191,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in CVS Health by 1.7% during the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock worth $8,305,132,000 after acquiring an additional 2,063,737 shares during the last quarter. State Street Corp grew its holdings in shares of CVS Health by 1.4% during the 2nd quarter. State Street Corp now owns 58,788,585 shares of the pharmacy operator’s stock worth $4,055,237,000 after purchasing an additional 800,414 shares during the period. Geode Capital Management LLC raised its holdings in CVS Health by 2.4% in the second quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock valued at $1,966,083,000 after buying an additional 675,824 shares during the period. Invesco Ltd. lifted its position in CVS Health by 15.3% during the second quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator’s stock valued at $1,623,270,000 after buying an additional 3,118,626 shares in the last quarter. Finally, Norges Bank purchased a new stake in CVS Health during the second quarter worth approximately $1,358,698,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research reports. Evercore ISI raised their target price on shares of CVS Health from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. The Goldman Sachs Group upped their target price on CVS Health from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of CVS Health in a research report on Monday, December 29th. Morgan Stanley increased their price objective on shares of CVS Health from $89.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of CVS Health in a research report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.86.

CVS Health Stock Down 3.5%

Shares of NYSE:CVS opened at $78.51 on Tuesday. CVS Health Corporation has a 12-month low of $51.79 and a 12-month high of $85.15. The company has a current ratio of 0.83, a quick ratio of 0.63 and a debt-to-equity ratio of 0.83. The firm has a market cap of $99.66 billion, a PE ratio of 206.61, a price-to-earnings-growth ratio of 0.72 and a beta of 0.48. The company has a fifty day simple moving average of $78.85 and a 200 day simple moving average of $74.42.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, topping the consensus estimate 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%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 22nd will be given a $0.665 dividend. The ex-dividend date is Thursday, January 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over?the?counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in?store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk?in medical clinics and HealthHUB locations that offer expanded clinical services.