Mengis Capital Management Inc. Decreases Position in CVS Health Corporation $CVS

Mengis Capital Management Inc. lowered its holdings in CVS Health Corporation (NYSE:CVS) by 18.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,105 shares of the pharmacy operator’s stock after selling 4,225 shares during the period. Mengis Capital Management Inc.’s holdings in CVS Health were worth $1,318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVS. Farther Finance Advisors LLC boosted its holdings in CVS Health by 27.2% in the first quarter. Farther Finance Advisors LLC now owns 16,278 shares of the pharmacy operator’s stock valued at $1,107,000 after purchasing an additional 3,481 shares during the last quarter. GAMMA Investing LLC boosted its holdings in CVS Health by 198.5% in the first quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator’s stock valued at $1,265,000 after purchasing an additional 12,415 shares during the last quarter. MV Capital Management Inc. boosted its holdings in CVS Health by 63.9% in the first quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator’s stock valued at $50,000 after purchasing an additional 289 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in CVS Health by 48.6% in the first quarter. Capital Advisors Ltd. LLC now owns 1,021 shares of the pharmacy operator’s stock valued at $69,000 after purchasing an additional 334 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in CVS Health during the first quarter valued at approximately $543,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho upped their price objective on CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group upgraded CVS Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Barclays upped their price objective on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Cantor Fitzgerald restated an “overweight” rating and set a $78.00 price objective on shares of CVS Health in a research note on Tuesday, August 26th. Finally, Wolfe Research upped their price objective on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

CVS Health Stock Down 0.2%

CVS opened at $76.78 on Friday. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $79.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The stock has a market cap of $97.38 billion, a P/E ratio of 21.45, a P/E/G ratio of 0.85 and a beta of 0.60. The stock’s 50 day moving average price is $71.98 and its 200 day moving average price is $67.59.

CVS Health (NYSE:CVS) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to analysts’ expectations of $94.87 billion. During the same period last year, the firm earned $1.83 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

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