SteelPeak Wealth LLC Takes $8.57 Million Position in CVS Health Corporation $CVS

SteelPeak Wealth LLC purchased a new position in shares of CVS Health Corporation (NYSE:CVS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 124,263 shares of the pharmacy operator’s stock, valued at approximately $8,572,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc grew its stake in shares of CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 248 shares during the period. Roxbury Financial LLC grew its stake in shares of CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 202 shares during the period. ORG Partners LLC grew its stake in shares of CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 377 shares during the period. Saudi Central Bank bought a new position in shares of CVS Health during the 1st quarter worth $34,000. Finally, Livelsberger Financial Advisory bought a new position in shares of CVS Health during the 2nd quarter worth $35,000. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Jefferies Financial Group raised their target price on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Wolfe Research raised their target price on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Barclays raised their target price on CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Finally, Cowen restated a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.25.

CVS Health Stock Performance

NYSE:CVS opened at $76.86 on Tuesday. The business’s 50-day moving average price is $71.05 and its two-hundred day moving average price is $67.39. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $79.20. The stock has a market cap of $97.48 billion, a P/E ratio of 21.47, a PEG ratio of 0.85 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last released its quarterly 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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter last year, the firm posted $1.83 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 74.30%.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.22% of the company’s stock.

CVS Health 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.