Canoe Financial LP Has $128.51 Million Stock Holdings in CVS Health Corporation $CVS

Canoe Financial LP increased its position in CVS Health Corporation (NYSE:CVS) by 5.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,704,608 shares of the pharmacy operator’s stock after buying an additional 92,430 shares during the quarter. CVS Health accounts for approximately 1.8% of Canoe Financial LP’s investment portfolio, making the stock its 23rd largest position. Canoe Financial LP owned approximately 0.13% of CVS Health worth $128,510,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of CVS Health by 1.7% during the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock valued at $8,305,132,000 after acquiring an additional 2,063,737 shares during the last quarter. State Street Corp increased its holdings in CVS Health by 1.4% in the second quarter. State Street Corp now owns 58,788,585 shares of the pharmacy operator’s stock valued at $4,055,237,000 after purchasing an additional 800,414 shares during the period. Geode Capital Management LLC raised its position in CVS Health by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock worth $1,966,083,000 after purchasing an additional 675,824 shares during the last quarter. Invesco Ltd. grew its position in shares of CVS Health by 15.3% in the 2nd quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator’s stock valued at $1,623,270,000 after buying an additional 3,118,626 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of CVS Health in the second quarter valued at about $1,358,698,000. 80.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVS. TD Cowen upped their target price on CVS Health from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Truist Financial set a $100.00 price objective on shares of CVS Health in a research note on Wednesday, December 10th. Barclays lifted their target price on shares of CVS Health from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CVS Health in a research report on Thursday, December 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of CVS Health in a research report on Wednesday, December 10th. Two equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.67.

CVS Health Stock Performance

Shares of CVS Health stock opened at $79.06 on Friday. The business has a 50-day simple moving average of $78.97 and a 200 day simple moving average of $72.79. The firm has a market capitalization of $100.35 billion, a price-to-earnings ratio of 208.04, a PEG ratio of 0.78 and a beta of 0.48. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.63. CVS Health Corporation has a one year low of $43.65 and a one year high of $85.15.

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