Turtle Creek Wealth Advisors LLC Acquires Shares of 6,282 CVS Health Corporation $CVS

Turtle Creek Wealth Advisors LLC bought a new position in shares of CVS Health Corporation (NYSE:CVS) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 6,282 shares of the pharmacy operator’s stock, valued at approximately $474,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in CVS Health in the 2nd quarter worth about $1,358,698,000. Invesco Ltd. increased its position in shares of CVS Health by 15.3% in the second quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator’s stock valued at $1,623,270,000 after buying an additional 3,118,626 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of CVS Health by 815.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator’s stock worth $183,701,000 after buying an additional 2,372,121 shares during the period. Jennison Associates LLC lifted its position in shares of CVS Health by 111.7% during the 2nd quarter. Jennison Associates LLC now owns 4,014,139 shares of the pharmacy operator’s stock valued at $276,895,000 after buying an additional 2,117,798 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in CVS Health by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock valued at $8,305,132,000 after acquiring an additional 2,063,737 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVS. Raymond James Financial upped their price objective on shares of CVS Health from $75.00 to $90.00 in a research report on Friday, October 31st. Morgan Stanley boosted their target price on shares of CVS Health from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Argus upped their price target on shares of CVS Health from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Leerink Partners lifted their price objective on CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Mizuho boosted their price objective on CVS Health from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $94.86.

CVS Health Stock Up 1.9%

CVS stock opened at $80.10 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.63 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average of $78.86 and a two-hundred day moving average of $74.51. CVS Health Corporation has a 12 month low of $52.21 and a 12 month high of $85.15. The company has a market cap of $101.68 billion, a price-to-earnings ratio of 210.80, a PEG ratio of 0.72 and a beta of 0.48.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $98.85 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The business’s revenue 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. As a group, analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 22nd. 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 700.00%.

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.