Connor Clark & Lunn Investment Management Ltd. Makes New Investment in CVS Health Corporation $CVS

Connor Clark & Lunn Investment Management Ltd. purchased a new position in CVS Health Corporation (NYSE:CVS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,169,603 shares of the pharmacy operator’s stock, valued at approximately $120,995,000.

A number of other large investors also recently bought and sold shares of CVS. BlackRock Inc. bought a new stake in shares of CVS Health during the second quarter worth $12,747,462,000. Vanguard Group Inc. grew its holdings in shares of CVS Health by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 120,709,530 shares of the pharmacy operator’s stock worth $9,579,508,000 after purchasing an additional 1,824,424 shares during the last quarter. State Street Corp grew its holdings in shares of CVS Health by 2.1% in the fourth quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock worth $4,776,182,000 after purchasing an additional 1,245,457 shares during the last quarter. Capital International Investors increased its stake in CVS Health by 3.4% in the 4th quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator’s stock worth $2,189,793,000 after buying an additional 900,153 shares during the period. Finally, Norges Bank bought a new stake in CVS Health during the 4th quarter valued at about $1,666,265,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE CVS opened at $93.01 on Monday. The company has a market cap of $118.96 billion, a PE ratio of 24.61, a P/E/G ratio of 0.85 and a beta of 0.61. The firm’s 50 day moving average price is $102.02 and its 200-day moving average price is $88.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.66 and a current ratio of 0.87. CVS Health Corporation has a 52-week low of $69.51 and a 52-week high of $110.68.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.71. The company had revenue of $106.10 billion during the quarter, compared to the consensus estimate of $100.03 billion. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. CVS Health’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 earnings per share. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Sell-side analysts forecast that CVS Health Corporation will post 8.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health’s payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research analyst reports. DA Davidson upped their target price on shares of CVS Health from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. UBS Group boosted their price target on CVS Health from $122.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $107.00 price objective on CVS Health in a report on Thursday, August 6th. Wells Fargo & Company lifted their target price on CVS Health from $103.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $113.00 price target on shares of CVS Health in a research report on Monday, June 1st. Twenty-two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $107.17.

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.