Bessemer Group Inc. Cuts Position in CVS Health Corporation $CVS

Bessemer Group Inc. reduced its holdings in shares of CVS Health Corporation (NYSE:CVS) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,185 shares of the pharmacy operator’s stock after selling 3,963 shares during the quarter. Bessemer Group Inc.’s holdings in CVS Health were worth $1,599,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Avion Wealth boosted its position in CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 189 shares during the period. Harbor Asset Planning Inc. acquired a new position in shares of CVS Health during the second quarter worth about $30,000. Bell Investment Advisors Inc boosted its position in shares of CVS Health by 119.8% in the first 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 period. Roxbury Financial LLC grew its stake in shares of CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 202 shares in the last quarter. Finally, ORG Partners LLC raised its holdings in shares of CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 377 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays increased their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Bernstein Bank cut their price objective on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 16th. Mizuho upped their price objective on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, UBS Group lifted their target price on CVS Health from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $86.33.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.22% of the company’s stock.

CVS Health Stock Down 4.8%

NYSE:CVS opened at $76.70 on Friday. The stock has a 50-day simple moving average of $76.35 and a 200 day simple moving average of $68.98. CVS Health Corporation has a one year low of $43.56 and a one year high of $85.15. The company has a market capitalization of $97.28 billion, a price-to-earnings ratio of 201.84, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $98.85 billion. During the same quarter last year, the business posted $1.09 EPS. CVS Health’s quarterly revenue was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.5%. CVS Health’s payout ratio is presently 74.30%.

CVS Health Profile

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.