Letko Brosseau & Associates Inc. Sells 12,300 Shares of CVS Health Corporation $CVS

Letko Brosseau & Associates Inc. lessened its position in CVS Health Corporation (NYSE:CVS) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,082,965 shares of the pharmacy operator’s stock after selling 12,300 shares during the period. Letko Brosseau & Associates Inc.’s holdings in CVS Health were worth $92,799,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CVS. BlackRock Inc. acquired a new stake in shares of CVS Health during the second quarter valued at about $12,747,462,000. State Street Corp increased its stake in shares of CVS Health by 26.3% in the second quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator’s stock valued at $7,751,205,000 after buying an additional 15,604,883 shares during the period. Bank of America Corp DE increased its stake in shares of CVS Health by 148.0% in the second quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator’s stock valued at $2,398,868,000 after buying an additional 13,836,701 shares during the period. Pzena Investment Management LLC bought a new position in CVS Health in the 2nd quarter valued at approximately $1,217,558,000. Finally, Wellington Management Group LLP raised its holdings in CVS Health by 49.8% in the 2nd quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator’s stock valued at $3,496,725,000 after buying an additional 11,233,381 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Transactions at CVS Health

In other news, EVP Prem Shah purchased 23,855 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were purchased at an average price of $83.89 per share, for a total transaction of $2,001,195.95. Following the transaction, the executive vice president owned 88,516 shares of the company’s stock, valued at approximately $7,425,607.24. This trade represents a 36.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.85% of the company’s stock.

Key CVS Health News

Here’s some of the latest news about CVS:

• Positive Sentiment: CVS’s planned 2028 split could sharpen strategic focus and improve capital allocation, potentially unlocking value in its businesses. Wells Fargo kept an “overweight” rating and sees its $112 price target as implying upside, despite lowering the target from $123. Article: Can CVS Health’s 2028 Split Unlock Value Despite Execution Risks?
• Neutral Sentiment: Wells Fargo’s price-target cut signals more cautious valuation assumptions, though its continued overweight rating indicates the analyst remains positive on CVS. Article: Wells Fargo rating and price target
• Negative Sentiment: The split is not a guaranteed catalyst: coverage highlights separation costs and execution risks, while Aetna’s recovery and stronger pharmacy profits are weighed against PBM pressures and declining membership. Senator Elizabeth Warren has also criticized the plan, suggesting political scrutiny may continue. Article: Is CVS Stock Worth Buying as Aetna Recovers but PBM Risks Persist?

Analyst Upgrades and Downgrades

CVS has been the topic of several recent research reports. Wall Street Zen downgraded shares of CVS Health from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 19th. BMO Capital Markets set a $112.00 price target on shares of CVS Health in a research report on Wednesday, September 9th. Barclays dropped their price target on shares of CVS Health from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. Sanford C. Bernstein reiterated an “outperform” rating and set a $112.00 price target on shares of CVS Health in a report on Wednesday, September 9th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $103.00 price objective on shares of CVS Health in a research note on Wednesday, November 4th. Twenty-three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $107.79.

CVS Health Trading Up 0.2%

Shares of CVS stock opened at $89.69 on Friday. CVS Health Corporation has a 1-year low of $69.51 and a 1-year high of $110.68. The company has a current ratio of 0.85, a quick ratio of 0.66 and a debt-to-equity ratio of 0.71. The stock has a market cap of $114.76 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 0.78 and a beta of 0.58. The stock has a 50-day moving average of $89.81 and a 200-day moving average of $89.00.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 4th. The pharmacy operator reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.44. CVS Health had a return on equity of 13.65% and a net margin of 2.62%. The company had revenue of $108.40 billion for the quarter, compared to analyst estimates of $104.72 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that CVS Health Corporation will post 8.26 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd were issued a dividend of $0.6650 per share. The ex-dividend date was Thursday, October 22nd. This represents a $2.66 annualized dividend and a yield of 3.0%. CVS Health’s dividend payout ratio (DPR) is presently 30.97%.

CVS Health Profile

CVS Health is a U.S.-based health care company that operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance and other health services. Its businesses include CVS Pharmacy, pharmacy benefit manager CVS Caremark, and Aetna, its health benefits division. The company also provides care through MinuteClinic walk-in clinics and health care businesses including Oak Street Health and Signify Health. Its services span prescription fulfillment, pharmacy benefit management, health insurance, primary care, and in-home and community-based care.