Panagora Asset Management Inc. Acquires 1,076,509 Shares of CVS Health Corporation $CVS

Panagora Asset Management Inc. boosted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 2,675.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,116,742 shares of the pharmacy operator’s stock after buying an additional 1,076,509 shares during the quarter. Panagora Asset Management Inc.’s holdings in CVS Health were worth $77,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of CVS Health by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock worth $8,305,132,000 after purchasing an additional 2,063,737 shares in the last quarter. Dodge & Cox lifted its position in shares of CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after buying an additional 3,353,223 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CVS Health by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock valued at $1,966,083,000 after acquiring an additional 675,824 shares during the period. Invesco Ltd. raised its stake in CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after acquiring an additional 2,375,764 shares during the period. Finally, Norges Bank purchased a new position in CVS Health during the second quarter valued at approximately $1,358,698,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. Barclays raised 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. Cowen restated a “buy” rating on shares of CVS Health in a research report on Monday, August 4th. Cantor Fitzgerald upped their price objective on CVS Health from $78.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Zacks Research downgraded CVS Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, UBS Group upped their price target on CVS Health from $79.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $89.41.

CVS Health Price Performance

Shares of CVS Health stock opened at $80.03 on Monday. The firm has a market cap of $101.60 billion, a PE ratio of 210.62, a PEG ratio of 0.87 and a beta of 0.60. The stock has a 50 day moving average of $78.64 and a 200 day moving average of $70.84. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.24. The business had revenue of $102.87 billion for the quarter, compared to analysts’ expectations of $98.85 billion. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

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.