Assenagon Asset Management S.A. Acquires 861,140 Shares of CVS Health Corporation $CVS

Assenagon Asset Management S.A. increased its holdings in CVS Health Corporation (NYSE:CVS) by 50.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,585,087 shares of the pharmacy operator’s stock after purchasing an additional 861,140 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CVS Health were worth $194,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CVS. Cantor Fitzgerald Investment Advisors L.P. raised 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 valued at $28,264,000 after acquiring an additional 6,615 shares in the last quarter. Red Mountain Financial LLC purchased a new position in CVS Health during the 2nd quarter valued at $293,000. AE Wealth Management LLC raised its holdings in CVS Health by 607.5% in the 2nd quarter. AE Wealth Management LLC now owns 242,221 shares of the pharmacy operator’s stock worth $16,708,000 after purchasing an additional 207,984 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of CVS Health by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock worth $8,305,132,000 after purchasing an additional 2,063,737 shares during the period. Finally, WBI Investments LLC boosted its stake in shares of CVS Health by 388.3% during the 1st quarter. WBI Investments LLC now owns 73,562 shares of the pharmacy operator’s stock valued at $4,984,000 after purchasing an additional 58,496 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVS. Piper Sandler reissued an “overweight” rating and issued a $101.00 price target (up from $99.00) on shares of CVS Health in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CVS Health in a report on Monday. Raymond James Financial raised their target price on CVS Health from $75.00 to $90.00 in a research note on Friday, October 31st. Robert W. Baird lifted their price target on CVS Health from $82.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Finally, Barclays increased their price objective on CVS Health from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $93.71.

CVS Health Stock Down 1.7%

NYSE:CVS opened at $78.34 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.63 and a current ratio of 0.83. The firm has a market cap of $99.45 billion, a P/E ratio of 206.17, a P/E/G ratio of 0.79 and a beta of 0.48. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $85.15. The firm has a 50-day simple moving average of $79.05 and a two-hundred day simple moving average of $72.20.

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

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.