Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in CVS Health Corporation $CVS

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of CVS Health Corporation (NYSE:CVS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 23,937 shares of the pharmacy operator’s stock, valued at approximately $1,651,000.

Other institutional investors also recently modified their holdings of the company. Avion Wealth grew 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 period. Harbor Asset Planning Inc. bought a new position in shares of CVS Health in the 2nd quarter worth $30,000. Bell Investment Advisors Inc increased its holdings in 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. Roxbury Financial LLC lifted its stake in CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 202 shares during the period. Finally, ORG Partners LLC boosted its holdings in CVS Health by 418.9% during the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 377 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVS. Zacks Research lowered shares of CVS Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Sanford C. Bernstein lifted their price target on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Royal Bank Of Canada upped their price objective on shares of CVS Health from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Raymond James Financial lifted their target price on CVS Health from $75.00 to $90.00 in a report on Friday, October 31st. Finally, Cowen reissued a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $89.41.

Insider Buying and Selling

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. Company insiders own 1.22% of the company’s stock.

CVS Health Trading Down 1.7%

NYSE:CVS opened at $77.86 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $85.15. The company has a market cap of $98.84 billion, a P/E ratio of 204.90, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The business has a 50 day moving average price of $77.70 and a two-hundred day moving average price of $69.96.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 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 during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’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, analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, October 23rd. 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.