Mirae Asset Global Investments Co. Ltd. Raises Stake in CVS Health Corporation $CVS

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CVS Health Corporation (NYSE:CVS) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 225,116 shares of the pharmacy operator’s stock after buying an additional 22,653 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CVS Health were worth $16,971,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC raised its stake in CVS Health by 12.3% in the third quarter. Alpha Omega Wealth Management LLC now owns 149,902 shares of the pharmacy operator’s stock valued at $11,301,000 after purchasing an additional 16,418 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in CVS Health by 186.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 396,368 shares of the pharmacy operator’s stock worth $30,568,000 after buying an additional 258,050 shares in the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of CVS Health by 177.4% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 34,259 shares of the pharmacy operator’s stock worth $2,583,000 after buying an additional 21,911 shares during the last quarter. Red Mountain Financial LLC purchased a new stake in shares of CVS Health during the 2nd quarter valued at $293,000. Finally, Osaic Holdings Inc. lifted its holdings in shares of CVS Health by 18.4% during the 2nd quarter. Osaic Holdings Inc. now owns 229,903 shares of the pharmacy operator’s stock worth $15,828,000 after acquiring an additional 35,809 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $74.51 on Friday. The company has a market capitalization of $94.59 billion, a P/E ratio of 196.09, a PEG ratio of 0.68 and a beta of 0.48. CVS Health Corporation has a fifty-two week low of $53.36 and a fifty-two 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 has a 50 day moving average price of $78.90 and a two-hundred day moving average price of $75.08.

CVS Health (NYSE:CVS) last issued 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 company had revenue of $102.87 billion for the quarter, compared to the consensus estimate of $98.85 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, January 22nd. CVS Health’s dividend payout ratio is currently 700.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group restated an “outperform” rating on shares of CVS Health in a research report on Wednesday, December 10th. Wells Fargo & Company reduced their price objective on CVS Health from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Morgan Stanley upped their target price on CVS Health from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of CVS Health in a research report on Wednesday, December 10th. Finally, The Goldman Sachs Group boosted their price objective on shares of CVS Health from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Nineteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $94.82.

About CVS Health

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.