Primecap Management Co. CA Makes New $246.78 Million Investment in CVS Health Corporation $CVS

Primecap Management Co. CA purchased a new stake in CVS Health Corporation (NYSE:CVS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,385,490 shares of the pharmacy operator’s stock, valued at approximately $246,779,000. Primecap Management Co. CA owned approximately 0.19% of CVS Health at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CVS. BlackRock Inc. bought a new stake in CVS Health during the 2nd quarter worth approximately $12,747,462,000. State Street Corp raised its position in CVS Health by 2.1% in the 4th quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock valued at $4,776,182,000 after purchasing an additional 1,245,457 shares during the last quarter. Capital International Investors boosted its stake in CVS Health by 3.4% in the fourth quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator’s stock worth $2,189,793,000 after purchasing an additional 900,153 shares in the last quarter. Norges Bank bought a new stake in shares of CVS Health during the fourth quarter worth $1,666,265,000. Finally, Morgan Stanley increased its stake in shares of CVS Health by 6.3% in the fourth quarter. Morgan Stanley now owns 20,373,774 shares of the pharmacy operator’s stock valued at $1,616,863,000 after buying an additional 1,211,631 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of CVS stock opened at $92.95 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12-month low of $69.51 and a 12-month high of $110.68. The firm has a fifty day moving average of $101.73 and a 200-day moving average of $89.20. The firm has a market capitalization of $118.88 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 0.86 and a beta of 0.61.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.71. The firm had revenue of $106.10 billion for the quarter, compared to analyst estimates of $100.03 billion. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. On average, equities research analysts forecast that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.9%. CVS Health’s payout ratio is currently 70.37%.

Analysts Set New Price Targets

CVS has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of CVS Health from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of CVS Health from $88.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Mizuho boosted their price objective on shares of CVS Health from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. HSBC reiterated a “hold” rating and issued a $103.00 price objective on shares of CVS Health in a research report on Monday, July 6th. Finally, DA Davidson lifted their target price on CVS Health from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Twenty-two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $107.17.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over?the?counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in?store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk?in medical clinics and HealthHUB locations that offer expanded clinical services.