Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 23,937 CVS Health Corporation $CVS

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in CVS Health Corporation (NYSE:CVS) in the second quarter, HoldingsChannel.com reports. The fund acquired 23,937 shares of the pharmacy operator’s stock, valued at approximately $1,651,000.

Other large investors have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock worth $28,264,000 after purchasing an additional 6,615 shares during the period. Brandywine Global Investment Management LLC lifted its holdings in CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock worth $231,808,000 after buying an additional 572,533 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in shares of CVS Health by 122.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock valued at $38,289,000 after buying an additional 311,098 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of CVS Health by 1.4% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 708,479 shares of the pharmacy operator’s stock valued at $47,999,000 after buying an additional 9,634 shares during the period. Finally, Holderness Investments Co. bought a new position in shares of CVS Health during the first quarter worth about $300,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVS. Wall Street Zen downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. The Goldman Sachs Group began coverage on shares of CVS Health in a research note on Tuesday, October 14th. They set a “buy” rating and a $91.00 target price for the company. Morgan Stanley upped their price target on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Wells Fargo & Company lowered their price objective on CVS Health from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and upped their target price for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.41.

CVS Health Trading Down 1.7%

NYSE CVS opened at $77.86 on Monday. The stock has a market capitalization of $98.84 billion, a price-to-earnings ratio of 204.90, a PEG ratio of 0.87 and a beta of 0.60. The business’s fifty day moving average is $77.70 and its 200-day moving average is $69.96. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62. CVS Health Corporation has a one year low of $43.56 and a one year high of $85.15.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, topping the consensus estimate of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The business had revenue of $102.87 billion for the quarter, compared to analyst estimates of $98.85 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Equities research analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, October 23rd. CVS Health’s dividend payout ratio is currently 700.00%.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.22% of the company’s stock.

CVS Health Company 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.