Engineers Gate Manager LP Reduces Position in CVS Health Corporation $CVS

Engineers Gate Manager LP reduced its holdings in CVS Health Corporation (NYSE:CVS) by 56.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,154 shares of the pharmacy operator’s stock after selling 74,861 shares during the period. Engineers Gate Manager LP’s holdings in CVS Health were worth $6,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in shares of CVS Health by 10,133.9% during the 2nd quarter. California State Teachers Retirement System now owns 193,320,429 shares of the pharmacy operator’s stock worth $19,998,998,000 after purchasing an additional 191,431,405 shares during the last quarter. BlackRock Inc. purchased a new position in CVS Health during the second quarter worth approximately $12,747,462,000. State Street Corp boosted its stake in CVS Health by 2.1% during the fourth quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock worth $4,776,182,000 after buying an additional 1,245,457 shares during the last quarter. Wellington Management Group LLP grew its holdings in CVS Health by 49.8% in the 2nd quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator’s stock valued at $3,496,725,000 after buying an additional 11,233,381 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of 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 acquiring an additional 900,153 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVS. Cantor Fitzgerald reissued an “overweight” rating on shares of CVS Health in a research report on Friday. Robert W. Baird set a $107.00 price objective on shares of CVS Health in a research report on Thursday, August 6th. Bank of America boosted their target price on shares of CVS Health from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Argus raised their price target on shares of CVS Health from $104.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. upped their price target on CVS Health from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.24.

CVS Health Stock Down 0.7%

Shares of NYSE:CVS opened at $94.62 on Friday. The firm has a market capitalization of $121.02 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 0.93 and a beta of 0.59. CVS Health Corporation has a 1 year low of $69.51 and a 1 year high of $110.68. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. The firm’s 50-day moving average is $99.92 and its two-hundred day moving average is $90.77.

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

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.8%. CVS Health’s dividend payout ratio is currently 70.37%.

About CVS Health

CVS Health Corporation is an American health care company headquartered in Woonsocket, Rhode Island. Founded in 1963 as Consumer Value Stores, the company has expanded from a chain of retail pharmacies into an integrated health care organization serving consumers, employers, health plans, government programs and health care providers.

CVS Health operates through several major businesses. Its Health Care Benefits segment, anchored by Aetna, provides health insurance products and related services for employers, individuals, Medicare and Medicaid members.