Evelyn Partners Investment Management LLP Purchases 1,399 Shares of CVS Health Corporation $CVS

Evelyn Partners Investment Management LLP grew its holdings in CVS Health Corporation (NYSE:CVS) by 348.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,800 shares of the pharmacy operator’s stock after acquiring an additional 1,399 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in CVS Health were worth $124,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. FineMark National Bank & Trust increased its position in CVS Health by 1.7% during the second quarter. FineMark National Bank & Trust now owns 9,576 shares of the pharmacy operator’s stock worth $661,000 after acquiring an additional 157 shares during the period. Hazlett Burt & Watson Inc. raised its position in shares of CVS Health by 10.9% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock valued at $117,000 after buying an additional 165 shares during the last quarter. Williams Financial LLC lifted its stake in shares of CVS Health by 2.5% in the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock valued at $478,000 after buying an additional 167 shares during the period. Hemington Wealth Management increased its stake in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock valued at $46,000 after acquiring an additional 172 shares during the period. Finally, Sunpointe LLC raised its holdings in CVS Health by 4.0% in the 2nd quarter. Sunpointe LLC now owns 4,760 shares of the pharmacy operator’s stock valued at $328,000 after acquiring an additional 185 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVS has been the subject of several research reports. Jefferies Financial Group raised their target price on CVS Health from $92.00 to $98.00 in a research report on Thursday, October 30th. Raymond James Financial lifted their target price on shares of CVS Health from $75.00 to $90.00 in a research report on Friday, October 31st. Sanford C. Bernstein increased their price target on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Wall Street Zen downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Mizuho increased their target price on 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-one have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.41.

CVS Health Stock Performance

NYSE:CVS opened at $77.92 on Friday. The stock has a market capitalization of $98.91 billion, a P/E ratio of 205.06, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $85.15. The firm has a 50 day moving average of $78.12 and a 200-day moving average of $70.28.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share 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 firm had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same period last year, the firm posted $1.09 EPS. The business’s revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, sell-side analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. CVS Health’s dividend payout ratio is currently 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.