36,217 Shares in CVS Health Corporation $CVS Acquired by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. acquired a new stake in CVS Health Corporation (NYSE:CVS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,217 shares of the pharmacy operator’s stock, valued at approximately $3,747,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVS. Caitong International Asset Management Co. Ltd raised its stake in CVS Health by 407.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 281 shares in the last quarter. Swiss RE Ltd. acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $26,000. Sankala Group LLC bought a new stake in shares of CVS Health in the fourth quarter valued at approximately $28,000. Global Trust Asset Management LLC grew its position in CVS Health by 344.8% during the first quarter. Global Trust Asset Management LLC now owns 387 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. acquired a new position in CVS Health in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling

In related news, EVP Tilak Mandadi sold 69,551 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $89.58, for a total transaction of $6,230,378.58. Following the sale, the executive vice president owned 10,133 shares in the company, valued at $907,714.14. The trade was a 87.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Larry Robbins sold 370,462 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $93.45, for a total value of $34,619,673.90. Following the completion of the transaction, the director directly owned 4,824,799 shares of the company’s stock, valued at approximately $450,877,466.55. The trade was a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,441,551 shares of company stock worth $323,703,977 in the last 90 days. Company insiders own 0.85% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $104.27 on Wednesday. The stock’s 50-day simple moving average is $101.96 and its 200 day simple moving average is $87.43. The firm has a market capitalization of $133.04 billion, a PE ratio of 45.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.78. CVS Health Corporation has a twelve month low of $61.35 and a twelve month high of $110.68.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 EPS for the quarter, topping the consensus estimate of $2.21 by $0.36. The firm had revenue of $100.43 billion during the quarter, compared to the consensus estimate of $94.99 billion. CVS Health had a return on equity of 11.88% and a net margin of 0.72%.The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 earnings per share. On average, analysts anticipate that CVS Health Corporation will post 7.46 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 annualized dividend and a yield of 2.6%. CVS Health’s dividend payout ratio is presently 117.18%.

Analysts Set New Price Targets

A number of research analysts recently commented on CVS shares. TD Cowen raised their price target on CVS Health from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Mizuho upped their price objective on shares of CVS Health from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Bank of America increased their price objective on shares of CVS Health from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, July 23rd. Finally, Truist Financial upped their price target on shares of CVS Health from $108.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Twenty-one investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.67.

Trending Headlines about CVS Health

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: Analysts expect another solid quarter, with revenue and earnings growth supported by Aetna initiatives and CVS’s pharmacy-benefit operations. A stronger-than-expected report or guidance upside could provide additional support for CVS Health (CVS). CVS’s Turnaround Faces Its Next Test
• Positive Sentiment: Recent analysis highlights early evidence of Aetna margin improvement, suggesting management’s turnaround plans may be gaining traction. That progress could help sustain the stock’s strong advance over the past year if confirmed in the earnings release. CVS Health Stock Surged On An Aetna Recovery
• Neutral Sentiment: CVS’s AI Learning Academy received two Gold Stevie Awards and one Silver award for employee reskilling, AI workforce innovation, and learning programs. The recognition supports the company’s long-term workforce strategy but is unlikely to materially affect near-term earnings. CVS Health earns Stevie Awards
• Negative Sentiment: The stock’s recent gains have raised expectations ahead of earnings. Any renewed concerns about Aetna medical costs, Caremark profitability, or conservative guidance could lead to profit-taking, particularly with shares trading near their 12-month high.

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.