Leo Wealth LLC Invests $538,000 in CVS Health Corporation $CVS

Leo Wealth LLC 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 firm purchased 7,793 shares of the pharmacy operator’s stock, valued at approximately $538,000.

Several other institutional investors have also added to or reduced their stakes in the business. Golden Reserve Retirement LLC bought a new position in CVS Health in the second quarter worth approximately $468,000. Maryland State Retirement & Pension System raised its holdings in CVS Health by 3.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 60,875 shares of the pharmacy operator’s stock worth $4,199,000 after purchasing an additional 1,891 shares during the period. Optas LLC bought a new position in shares of CVS Health in the second quarter worth about $433,000. WESPAC Advisors LLC purchased a new position in shares of CVS Health during the 2nd quarter valued at about $763,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of CVS Health during the 2nd quarter valued at about $259,000. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CVS. Baird R W upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. UBS Group upgraded shares of CVS Health from a “neutral” rating to a “buy” rating and raised their price objective for the company from $67.00 to $79.00 in a research report on Monday, August 18th. Weiss Ratings restated a “hold (c-)” rating on shares of CVS Health in a research report on Saturday, September 27th. Barclays raised their price target on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Finally, Robert W. Baird raised CVS Health from a “neutral” rating to an “outperform” rating and raised their price target for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $79.80.

CVS Health Stock Performance

NYSE:CVS opened at $76.78 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $79.20. The stock’s 50 day simple moving average is $71.98 and its two-hundred day simple moving average is $67.59. The company has a market cap of $97.38 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.85 and a beta of 0.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion for the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter in the previous year, the business posted $1.83 earnings per share. CVS Health’s quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s payout ratio is presently 74.30%.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business’s 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 directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.22% of the stock is owned by insiders.

CVS Health Profile

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.