Bank of Nova Scotia Reduces Position in CVS Health Corporation $CVS

Bank of Nova Scotia lessened its position in CVS Health Corporation (NYSE:CVS) by 48.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 632,518 shares of the pharmacy operator’s stock after selling 587,663 shares during the period. Bank of Nova Scotia’s holdings in CVS Health were worth $45,428,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CVS. Dickmeyer Boyce Financial Management Inc. purchased a new position in shares of CVS Health in the 1st quarter valued at approximately $371,000. Gibbs Wealth Management boosted its holdings in shares of CVS Health by 110.0% during the 1st quarter. Gibbs Wealth Management now owns 30,430 shares of the pharmacy operator’s stock valued at $2,185,000 after acquiring an additional 15,937 shares during the last quarter. Sei Investments Co. raised its stake in CVS Health by 32.1% during the 1st quarter. Sei Investments Co. now owns 1,383,147 shares of the pharmacy operator’s stock valued at $99,338,000 after buying an additional 336,387 shares during the last quarter. Alamar Capital Management LLC purchased a new stake in CVS Health during the first quarter valued at $272,000. Finally, Arvest Bank Trust Division boosted its holdings in shares of CVS Health by 2,401.7% in the first quarter. Arvest Bank Trust Division now owns 66,945 shares of the pharmacy operator’s stock worth $4,808,000 after buying an additional 64,269 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting CVS Health

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

• Positive Sentiment: CVS is getting a sentiment boost from multiple headlines around its expanded pharmacy services, including nationwide filling of select pet prescriptions and a new service for harder-to-find medications, which could support retail pharmacy traffic and reinforce its convenience-driven growth story.
• Positive Sentiment: Analyst commentary remains constructive, with Zacks calling CVS a top long-term momentum stock and other reports noting a “Moderate Buy” consensus and higher price targets, suggesting Wall Street still sees upside tied to pharmacy, PBM, and Medicare Advantage execution. Article Title
• Positive Sentiment: Options activity also pointed to bullish trading interest, with unusually heavy call buying in CVS, often interpreted as a sign that traders expect further upside or a continued positive trend.
• Neutral Sentiment: A recent report on CVS’s dividend noted that payouts have been unchanged for 10 quarters, framing the dividend as a question for income investors rather than a clear catalyst for the stock.
• Neutral Sentiment: CVS stock has already had a strong run over the past year, and one article highlighted the shares nearing valuation levels that depend heavily on continued operational execution and policy stability.
• Negative Sentiment: Henry Ford Health filed a lawsuit alleging CVS used fraudulent reimbursement practices tied to the 340B drug discount program, which could create legal costs, headline risk, and potential pressure on margins if the claims gain traction. Article Title

Insider Buying and Selling at CVS Health

In other news, Director Larry Robbins sold 370,462 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $93.45, for a total transaction of $34,619,673.90. Following the completion of the sale, the director owned 4,824,799 shares of the company’s stock, valued at $450,877,466.55. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tilak Mandadi sold 69,551 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $89.58, for a total value of $6,230,378.58. Following the completion of the sale, the executive vice president directly owned 10,133 shares of the company’s stock, valued at approximately $907,714.14. This represents a 87.28% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,441,551 shares of company stock valued at $323,703,977. 0.85% of the stock is owned by insiders.

CVS Health Stock Performance

Shares of NYSE CVS opened at $107.64 on Friday. The company has a 50 day simple moving average of $100.21 and a two-hundred day simple moving average of $86.12. The stock has a market cap of $137.34 billion, a price-to-earnings ratio of 47.42, a PEG ratio of 1.04 and a beta of 0.61. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.78. CVS Health Corporation has a 12 month low of $58.99 and a 12 month high of $110.68.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. CVS Health had a return on equity of 11.88% and a net margin of 0.72%.The company had revenue of $100.43 billion during the quarter, compared to the consensus estimate of $94.99 billion. During the same period in the previous year, the company posted $2.25 earnings per share. CVS Health’s revenue for the quarter was up 6.2% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. As a group, analysts predict that CVS Health Corporation will post 7.46 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, July 23rd. CVS Health’s dividend payout ratio (DPR) is presently 117.18%.

Wall Street Analysts Forecast Growth

CVS has been the subject of several analyst reports. Argus increased their target price on shares of CVS Health from $90.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Robert W. Baird lifted their price objective on shares of CVS Health from $92.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Truist Financial boosted their target price on CVS Health from $108.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, HSBC restated a “hold” rating and issued a $103.00 price objective on shares of CVS Health in a report on Monday, July 6th. Twenty-one investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.67.

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.