Westpac Banking Corp Takes $1.11 Million Position in CVS Health Corporation $CVS

Westpac Banking Corp bought a new stake in CVS Health Corporation (NYSE:CVS) in the second quarter, Holdings Channel.com reports. The institutional investor bought 10,777 shares of the pharmacy operator’s stock, valued at approximately $1,115,000.

A number of other institutional investors have also added to or reduced their stakes in CVS. Handelsbanken Fonder AB lifted its holdings in shares of CVS Health by 83.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,089,694 shares of the pharmacy operator’s stock worth $112,729,000 after purchasing an additional 496,124 shares in the last quarter. State Street Corp increased its stake in CVS Health by 2.1% during the 4th quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock valued at $4,776,182,000 after purchasing an additional 1,245,457 shares in the last quarter. Legal & General Group Plc increased its stake in CVS Health by 0.3% during the 4th quarter. Legal & General Group Plc now owns 9,309,182 shares of the pharmacy operator’s stock valued at $738,777,000 after purchasing an additional 31,249 shares in the last quarter. Deutsche Bank AG raised its holdings in CVS Health by 28.4% during the fourth quarter. Deutsche Bank AG now owns 4,666,495 shares of the pharmacy operator’s stock worth $370,333,000 after buying an additional 1,031,998 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of CVS Health in the second quarter valued at $49,622,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

NYSE CVS opened at $93.01 on Friday. The company has a fifty day moving average price of $102.02 and a 200-day moving average price of $88.86. The firm has a market cap of $118.96 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 0.85 and a beta of 0.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. CVS Health Corporation has a 1 year low of $69.51 and a 1 year high of $110.68.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The company had revenue of $106.10 billion for the quarter, compared to analyst estimates of $100.03 billion. During the same period last year, the firm earned $1.81 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. As a group, equities research analysts predict that CVS Health Corporation will post 8.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 annualized dividend and a dividend yield of 2.9%. CVS Health’s dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVS shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CVS Health from $88.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. TD Cowen raised their price target on shares of CVS Health from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Barclays lifted their price target on CVS Health from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Robert W. Baird set a $107.00 price objective on CVS Health in a report on Thursday, August 6th. Finally, Mizuho increased their price objective on CVS Health from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Twenty-two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $107.17.

CVS Health Company Profile

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.