Orca Investment Management LLC Reduces Stock Position in CVS Health Corporation $CVS

Orca Investment Management LLC lessened its position in shares of CVS Health Corporation (NYSE:CVS) by 7.8% during the 2nd quarter, Holdings Channel reports. The firm owned 35,774 shares of the pharmacy operator’s stock after selling 3,019 shares during the quarter. CVS Health comprises 2.2% of Orca Investment Management LLC’s portfolio, making the stock its 12th largest holding. Orca Investment Management LLC’s holdings in CVS Health were worth $2,468,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Means Investment CO. Inc. grew its stake in CVS Health by 184.4% during the 2nd quarter. Means Investment CO. Inc. now owns 11,879 shares of the pharmacy operator’s stock valued at $819,000 after purchasing an additional 7,702 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in CVS Health by 16.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,240 shares of the pharmacy operator’s stock valued at $10,434,000 after purchasing an additional 21,544 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in CVS Health by 20.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 16,193 shares of the pharmacy operator’s stock valued at $1,117,000 after purchasing an additional 2,771 shares during the last quarter. Aberdeen Group plc grew its holdings in CVS Health by 3.0% during the second quarter. Aberdeen Group plc now owns 1,178,288 shares of the pharmacy operator’s stock worth $81,278,000 after acquiring an additional 34,810 shares during the period. Finally, PDS Planning Inc grew its holdings in CVS Health by 10.6% during the second quarter. PDS Planning Inc now owns 4,779 shares of the pharmacy operator’s stock worth $330,000 after acquiring an additional 459 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.22% of the company’s stock.

CVS Health Stock Performance

NYSE CVS opened at $77.89 on Friday. The company has a market cap of $98.79 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60. The stock’s 50 day simple moving average is $72.28 and its 200-day simple moving average is $67.67. 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.

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

CVS Health Announces Dividend

The business also recently declared 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. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 74.30%.

Analysts Set New Price Targets

Several research firms recently commented on CVS. Mizuho raised their target price on CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and raised their target price for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Wells Fargo & Company raised their target price on CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Bernstein Bank lowered their price target on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

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.