OLD National Bancorp IN Grows Stake in CVS Health Corporation $CVS

OLD National Bancorp IN boosted its position in shares of CVS Health Corporation (NYSE:CVS) by 15.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 342,693 shares of the pharmacy operator’s stock after purchasing an additional 44,980 shares during the quarter. OLD National Bancorp IN’s holdings in CVS Health were worth $23,639,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc increased its holdings in CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 248 shares during the period. Roxbury Financial LLC increased its holdings in CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 202 shares during the period. ORG Partners LLC increased its holdings in shares of CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 377 shares during the period. Saudi Central Bank purchased a new position in shares of CVS Health in the 1st quarter valued at $34,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the 2nd quarter valued at $35,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction dated 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 sale, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.22% of the company’s stock.

CVS Health Stock Up 0.1%

Shares of CVS stock opened at $77.51 on Friday. The stock’s fifty day moving average price is $70.71 and its 200 day moving average price is $67.33. CVS Health Corporation has a 1-year low of $43.56 and a 1-year 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 company has a market cap of $98.31 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter in the previous year, the firm posted $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. On average, research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. CVS Health’s payout ratio is currently 74.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVS. Weiss Ratings reiterated a “hold (c-)” rating on shares of CVS Health in a report on Saturday, September 27th. Zacks Research downgraded CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Sanford C. Bernstein lifted their price target on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Finally, Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.25.

CVS Health Company 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.