TrueMark Investments LLC Takes Position in CVS Health Corporation $CVS

TrueMark Investments LLC purchased a new stake in shares of CVS Health Corporation (NYSE:CVS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 73,063 shares of the pharmacy operator’s stock, valued at approximately $5,040,000. CVS Health makes up approximately 1.1% of TrueMark Investments LLC’s portfolio, making the stock its 25th biggest position.

Several other institutional investors also recently modified their holdings of CVS. Harbor Asset Planning Inc. purchased a new stake in shares of CVS Health during the second quarter valued at $30,000. Bell Investment Advisors Inc boosted its position in shares of CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 248 shares during the last quarter. Roxbury Financial LLC boosted its position in shares of CVS Health by 78.3% during the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 202 shares during the last quarter. ORG Partners LLC boosted its position in shares of CVS Health by 418.9% during the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 377 shares during the last quarter. Finally, Saudi Central Bank purchased a new stake in shares of CVS Health during the first quarter valued at $34,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVS shares. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research report on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of CVS Health in a research report on Tuesday, October 14th. Mizuho raised their target price on CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Jefferies Financial Group raised their target price on CVS Health from $80.00 to $92.00 in a research report on Wednesday. Finally, Bernstein Bank dropped their target price on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.57.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.22% of the company’s stock.

CVS Health Stock Up 1.6%

NYSE CVS opened at $82.64 on Friday. The stock’s 50-day moving average price is $74.00 and its 200-day moving average price is $68.12. 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 Corporation has a 52 week low of $43.56 and a 52 week high of $82.88. The company has a market capitalization of $104.81 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping 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 the consensus estimate of $94.87 billion. During the same quarter last year, the company earned $1.83 earnings per share. The business’s revenue for the quarter 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. On average, equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 74.30%.

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.