CVS Health Corporation $CVS Position Boosted by Royal Fund Management LLC

Royal Fund Management LLC increased its holdings in shares of CVS Health Corporation (NYSE:CVS) by 15.0% in the third quarter, Holdings Channel reports. The firm owned 86,465 shares of the pharmacy operator’s stock after buying an additional 11,286 shares during the period. Royal Fund Management LLC’s holdings in CVS Health were worth $7,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in CVS Health in the second quarter valued at about $12,747,462,000. State Street Corp boosted its stake in CVS Health by 26.3% during the second quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator’s stock worth $7,751,205,000 after buying an additional 15,604,883 shares during the period. Bank of America Corp DE increased its position in shares of CVS Health by 148.0% during the second quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator’s stock valued at $2,398,868,000 after acquiring an additional 13,836,701 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in shares of CVS Health during the second quarter valued at about $1,217,558,000. Finally, Wellington Management Group LLP raised its stake in shares of 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 acquiring an additional 11,233,381 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.2%

Shares of NYSE:CVS opened at $94.54 on Friday. 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 has a market capitalization of $120.92 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The firm’s 50-day moving average is $91.67 and its two-hundred day moving average is $93.78. CVS Health Corporation has a 1 year low of $69.51 and a 1 year high of $110.68.

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

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be paid a dividend of $0.6650 per share. This represents a $2.66 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, October 22nd. CVS Health’s dividend payout ratio is presently 70.37%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVS. UBS Group reissued a “buy” rating on shares of CVS Health in a research note on Tuesday, September 22nd. Weiss Ratings cut shares of CVS Health from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. Leerink Partners dropped their target price on shares of CVS Health from $119.00 to $112.00 and set an “outperform” rating for the company in a report on Monday, October 12th. Sanford C. Bernstein reissued an “outperform” rating and issued a $112.00 target price on shares of CVS Health in a research report on Wednesday, September 9th. Finally, Barclays boosted their target price on CVS Health from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.80.

About CVS Health

CVS Health Corporation (NYSE: CVS) is a diversified health care company that provides pharmacy, insurance and health services in the United States. Its businesses serve consumers, employers, health plans and health care providers through pharmacies, benefit programs, insurance coverage and clinical care services.

The company’s Pharmacy Services segment, led by CVS Caremark, manages prescription drug benefits for employers, insurers and government programs. CVS Pharmacy operates retail pharmacies and health-focused stores that dispense prescriptions and offer over-the-counter products, health and wellness merchandise, immunizations and related services.