Canoe Financial LP Acquires 92,430 Shares of CVS Health Corporation $CVS

Canoe Financial LP raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 5.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,704,608 shares of the pharmacy operator’s stock after purchasing an additional 92,430 shares during the period. CVS Health makes up approximately 1.8% of Canoe Financial LP’s portfolio, making the stock its 23rd biggest holding. Canoe Financial LP’s holdings in CVS Health were worth $128,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CVS. Harbor Capital Advisors Inc. boosted its position in shares of CVS Health by 72.1% during the third quarter. Harbor Capital Advisors Inc. now owns 339 shares of the pharmacy operator’s stock valued at $26,000 after buying an additional 142 shares during the last quarter. Avion Wealth boosted its holdings in CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after acquiring an additional 189 shares during the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of CVS Health in the 2nd quarter worth $30,000. Bell Investment Advisors Inc raised its holdings in shares of CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 248 shares during the last quarter. Finally, Front Row Advisors LLC lifted its position in shares of CVS Health by 436.5% during the second quarter. Front Row Advisors LLC now owns 456 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 371 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVS shares. JPMorgan Chase & Co. upped their price objective on shares of CVS Health from $93.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Piper Sandler reaffirmed an “overweight” rating and set a $101.00 price target (up from $99.00) on shares of CVS Health in a research report on Wednesday, December 10th. Truist Financial set a $100.00 price target on CVS Health in a report on Wednesday, December 10th. Royal Bank Of Canada restated an “outperform” rating on shares of CVS Health in a research note on Thursday, December 4th. Finally, Jefferies Financial Group lifted their target price on CVS Health from $92.00 to $98.00 in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.67.

CVS Health Trading Up 1.3%

Shares of CVS Health stock opened at $79.06 on Friday. The stock has a market capitalization of $100.35 billion, a P/E ratio of 208.04, a P/E/G ratio of 0.78 and a beta of 0.48. CVS Health Corporation has a 52-week low of $43.65 and a 52-week high of $85.15. 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 stock’s 50-day simple moving average is $78.97 and its 200 day simple moving average is $72.79.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share 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 firm had revenue of $102.87 billion during the quarter, compared to the consensus estimate of $98.85 billion. During the same quarter last year, the company earned $1.09 earnings per share. The company’s 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. As a group, research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Profile

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.