Oppenheimer Asset Management Inc. Trims Position in CVS Health Corporation $CVS

Oppenheimer Asset Management Inc. lessened its stake in CVS Health Corporation (NYSE:CVS) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 504,251 shares of the pharmacy operator’s stock after selling 34,090 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CVS Health were worth $34,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVS. Avion Wealth grew its position in shares of CVS Health by 99.0% in the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after buying an additional 189 shares during the last quarter. Harbor Asset Planning Inc. purchased a new stake in CVS Health during the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc grew its position 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 last quarter. Roxbury Financial LLC grew its position 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 last quarter. Finally, ORG Partners LLC grew its position in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of the company’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 completion of the sale, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.22% of the company’s stock.

CVS Health Trading Up 1.1%

Shares of CVS opened at $81.95 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $83.52. The firm has a 50-day moving average price of $75.57 and a 200 day moving average price of $68.68. The firm has a market capitalization of $103.94 billion, a P/E ratio of 22.89, a P/E/G ratio of 0.90 and a beta of 0.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. CVS Health’s quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.2%. CVS Health’s dividend payout ratio is currently 74.30%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Leerink Partners boosted their target price on shares of CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Mizuho boosted their target price on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Morgan Stanley boosted their target price on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, Barclays boosted their target price on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.38.

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.