Parallel Advisors LLC Sells 1,895 Shares of CVS Health Corporation $CVS

Parallel Advisors LLC lowered its stake in shares of CVS Health Corporation (NYSE:CVS) by 18.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,430 shares of the pharmacy operator’s stock after selling 1,895 shares during the quarter. Parallel Advisors LLC’s holdings in CVS Health were worth $581,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock worth $128,477,000 after purchasing an additional 1,582,257 shares during the period. Cerity Partners LLC boosted its position in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock worth $43,920,000 after purchasing an additional 129,535 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock worth $608,481,000 after buying an additional 183,813 shares during the last quarter. Brandywine Global Investment Management LLC lifted its holdings in shares of CVS Health by 20.1% during the first 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 last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of CVS Health by 122.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock worth $38,289,000 after buying an additional 311,098 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVS. Jefferies Financial Group upped their price target on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Wall Street Zen lowered CVS Health from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. 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 note on Thursday, August 14th. Barclays upped their target price on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Finally, UBS Group upgraded CVS Health from a “neutral” rating to a “buy” rating and upped their target price for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.89.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Price Performance

CVS Health stock opened at $74.95 on Friday. The business’s 50-day simple moving average is $67.91 and its 200 day simple moving average is $66.62. The stock has a market cap of $95.06 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 0.82 and a beta of 0.62. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $76.24. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 74.30%.

CVS Health 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.