Wedge Capital Management L L P NC Sells 58,261 Shares of CVS Health Corporation $CVS

Wedge Capital Management L L P NC cut its holdings in CVS Health Corporation (NYSE:CVS) by 16.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 301,882 shares of the pharmacy operator’s stock after selling 58,261 shares during the quarter. Wedge Capital Management L L P NC’s holdings in CVS Health were worth $31,230,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVS. Norges Bank bought a new position in shares of CVS Health in the 4th quarter worth $1,666,265,000. Wellington Management Group LLP boosted its holdings in CVS Health by 193.2% during the fourth quarter. Wellington Management Group LLP now owns 18,564,392 shares of the pharmacy operator’s stock worth $1,473,270,000 after buying an additional 12,233,675 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in CVS Health by 1,020.7% during the first quarter. Pacer Advisors Inc. now owns 4,845,221 shares of the pharmacy operator’s stock worth $347,984,000 after buying an additional 4,412,882 shares during the last quarter. Amundi grew its position in shares of CVS Health by 95.3% during the 3rd quarter. Amundi now owns 7,453,980 shares of the pharmacy operator’s stock worth $572,665,000 after buying an additional 3,637,943 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of CVS Health by 44.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,219,756 shares of the pharmacy operator’s stock valued at $446,703,000 after acquiring an additional 1,899,932 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insiders Place Their Bets

In other CVS Health news, Director Larry Robbins sold 1,983,538 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $94.45, for a total transaction of $187,345,164.10. Following the completion of the transaction, the director owned 6,213,261 shares in the company, valued at approximately $586,842,501.45. This represents a 24.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 3,372,000 shares of company stock valued at $317,473,598. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CVS has been the topic of several recent analyst reports. Bank of America lifted their price objective on shares of CVS Health from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. TD Cowen increased their target price on shares of CVS Health from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, May 11th. UBS Group lifted their price target on shares of CVS Health from $122.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of CVS Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, HSBC reaffirmed a “hold” rating and set a $103.00 price objective on shares of CVS Health in a research note on Monday, July 6th. Twenty-two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.46.

CVS Health Price Performance

NYSE CVS opened at $93.41 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.66 and a current ratio of 0.87. The stock has a market cap of $119.47 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 0.91 and a beta of 0.61. The business has a 50 day simple moving average of $102.43 and a 200 day simple moving average of $88.00. CVS Health Corporation has a 52-week low of $64.32 and a 52-week high of $110.68.

CVS Health (NYSE:CVS) last announced 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 firm had revenue of $106.10 billion for the quarter, compared to analyst estimates of $100.03 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. The business’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. Analysts anticipate that CVS Health Corporation will post 8.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were paid 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 yield of 2.8%. CVS Health’s dividend payout ratio is presently 70.37%.

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.