CVS Health Corporation $CVS is Callodine Capital Management LP’s 10th Largest Position

Callodine Capital Management LP boosted its stake in shares of CVS Health Corporation (NYSE:CVS) by 78.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 518,000 shares of the pharmacy operator’s stock after purchasing an additional 228,000 shares during the quarter. CVS Health comprises approximately 3.7% of Callodine Capital Management LP’s holdings, making the stock its 10th biggest position. Callodine Capital Management LP’s holdings in CVS Health were worth $35,732,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CVS. Cantor Fitzgerald Investment Advisors L.P. grew its holdings in shares of CVS Health by 1.6% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock valued at $28,264,000 after purchasing an additional 6,615 shares in the last quarter. Brandywine Global Investment Management LLC grew its stake 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 purchasing an additional 572,533 shares in the last quarter. Holderness Investments Co. acquired a new stake in CVS Health in the 1st quarter valued at about $300,000. Red Mountain Financial LLC acquired a new position in CVS Health during the 2nd quarter worth approximately $293,000. Finally, AE Wealth Management LLC increased its holdings in CVS Health by 607.5% in the second quarter. AE Wealth Management LLC now owns 242,221 shares of the pharmacy operator’s stock valued at $16,708,000 after buying an additional 207,984 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVS shares. Piper Sandler boosted their target price on shares of CVS Health from $81.00 to $99.00 in a research report on Friday, October 31st. Raymond James Financial upped their target price on shares of CVS Health from $75.00 to $90.00 in a research report on Friday, October 31st. Barclays lifted their price target on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Cantor Fitzgerald increased their price objective on shares of CVS Health from $78.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Leerink Partners upped their price target on shares of CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $90.95.

CVS Health Stock Down 1.6%

Shares of NYSE:CVS opened at $75.52 on Friday. The firm has a market cap of $95.87 billion, a price-to-earnings ratio of 198.74, a PEG ratio of 0.74 and a beta of 0.48. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $85.15. The company has a current ratio of 0.83, a quick ratio of 0.63 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average price is $78.75 and its two-hundred day moving average price is $71.29.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (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 analysts’ expectations of $98.85 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.5%. CVS Health’s dividend payout ratio is presently 700.00%.

About CVS Health

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.