Granite Islands Private Wealth LLC Purchases 7,639 Shares of CVS Health Corporation $CVS

Granite Islands Private Wealth LLC grew its holdings in shares of CVS Health Corporation (NYSE:CVS) by 185.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,769 shares of the pharmacy operator’s stock after purchasing an additional 7,639 shares during the quarter. Granite Islands Private Wealth LLC’s holdings in CVS Health were worth $1,008,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. acquired a new position in CVS Health during the second quarter worth about $12,747,462,000. State Street Corp increased its stake in shares of CVS Health by 26.3% in the 2nd quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator’s stock worth $7,751,205,000 after acquiring an additional 15,604,883 shares during the last quarter. Wellington Management Group LLP increased its position in CVS Health by 49.8% during the second quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator’s stock worth $3,496,725,000 after purchasing an additional 11,233,381 shares during the last quarter. Bank of America Corp DE raised its position in shares of CVS Health by 148.0% during the 2nd 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 buying an additional 13,836,701 shares during the period. Finally, Pzena Investment Management LLC purchased a new stake in CVS Health in the second quarter valued at $1,217,558,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health News Roundup

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: Improving fundamentals and valuation support the stock. CVS has recently exceeded earnings and revenue expectations, while analysts cited stronger returns, rising earnings estimates and a lower valuation than Alignment Healthcare. Its Aetna turnaround is also viewed as a potential catalyst. CVS vs. ALHC: Which Medicare Advantage Stock Is the Better Pick Now?
• Positive Sentiment: Expanded care access and quality credentials reinforce CVS’s healthcare-services strategy. CVS opened its first pharmacy-focused location in the Boston area to improve access to medications, immunizations and other services. Separately, MinuteClinic received its seventh consecutive Joint Commission accreditation, with primary care available at more than 65% of its locations. CVS Pharmacy Celebrates Opening of First Pharmacy-Focused Location in Boston Area
• Neutral Sentiment: New women’s-health collaboration could support longer-term engagement. CVS is partnering with The Midlife Collective on a research study and documentary focused on women’s midlife health. The initiative may strengthen brand awareness and consumer relationships, but it is unlikely to have a near-term financial impact. CVS Health Collaborates With The Midlife Collective
• Positive Sentiment: Home-based heart monitoring expands value-added services. Signify Health, part of CVS, offers continuous heart-rhythm monitoring for eligible health-plan members, potentially enabling earlier detection of serious conditions and supporting preventive-care economics. CVS Health: Early Detection Matters
• Negative Sentiment: $315 million opioid settlement creates legal, financial and reputational pressure. CVS agreed to settle Justice Department allegations involving unlawful opioid dispensing and false claims. The company admitted no wrongdoing but will implement tighter controlled-substance oversight, adding costs and highlighting compliance risks. CVS Agrees to Pay $315M

CVS Health Stock Performance

Shares of CVS Health stock opened at $92.45 on Friday. The stock has a market capitalization of $118.25 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 0.84 and a beta of 0.60. 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 business has a 50-day moving average of $91.80 and a 200 day moving average of $93.03. CVS Health Corporation has a 12 month low of $69.51 and a 12 month high of $110.68.

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

CVS Health Announces Dividend

The business 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 2.9%. The ex-dividend date of this dividend is Thursday, October 22nd. CVS Health’s payout ratio is presently 70.37%.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of CVS Health in a research note on Friday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of CVS Health from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. BMO Capital Markets set a $112.00 price target on shares of CVS Health in a research note on Wednesday, September 9th. Truist Financial upped their price objective on shares of CVS Health from $108.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Argus increased their price objective on shares of CVS Health from $104.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.80.

CVS Health Company Profile

CVS Health Corp. is an integrated health care company that provides pharmacy, insurance and health services primarily in the United States. Its operations are designed to connect consumers, health plans, health care providers and pharmacy services across multiple points of care.

The company’s major businesses include CVS Pharmacy retail locations, prescription fulfillment and consumer health products; CVS Caremark, a pharmacy benefit management business; and Aetna, which offers health insurance products and related services for employers, individuals, government programs and other organizations.