Thematics Asset Management Sells 8,284 Shares of CVS Health Corporation $CVS

Thematics Asset Management cut its position in CVS Health Corporation (NYSE:CVS) by 12.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,627 shares of the pharmacy operator’s stock after selling 8,284 shares during the quarter. Thematics Asset Management’s holdings in CVS Health were worth $4,044,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Cantor Fitzgerald Investment Advisors L.P. increased its position in CVS Health by 1.6% in the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock valued at $28,264,000 after acquiring an additional 6,615 shares during the period. Brandywine Global Investment Management LLC grew its stake in CVS Health by 20.1% during the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock worth $231,808,000 after purchasing an additional 572,533 shares during the period. Holderness Investments Co. bought a new stake in shares of CVS Health in the 1st quarter valued at $300,000. Red Mountain Financial LLC acquired a new position in shares of CVS Health during the second quarter valued at about $293,000. Finally, AE Wealth Management LLC boosted its holdings in CVS Health by 607.5% in the second quarter. AE Wealth Management LLC now owns 242,221 shares of the pharmacy operator’s stock worth $16,708,000 after acquiring an additional 207,984 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Argus boosted their price objective on CVS Health from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Truist Financial restated a “buy” rating and issued a $95.00 price objective (up from $92.00) on shares of CVS Health in a research note on Thursday, October 30th. Wolfe Research increased their target price on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Mizuho upped their target price on shares of CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $90.95.

CVS Health Stock Performance

CVS Health stock opened at $75.52 on Monday. The company has a market capitalization of $95.87 billion, a PE ratio of 198.74, a P/E/G ratio of 0.74 and a beta of 0.48. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $85.15. The firm has a fifty day simple moving average of $78.75 and a two-hundred day simple moving average of $71.35. The company has a quick ratio of 0.63, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last posted its quarterly earnings results 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. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The business had revenue of $102.87 billion for the quarter, compared to analyst estimates of $98.85 billion. During the same period last year, the company earned $1.09 EPS. CVS Health’s revenue for the quarter was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Research analysts expect that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

About CVS Health

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.