Perigon Wealth Management LLC Invests $3.54 Million in CVS Health Corporation $CVS

Perigon Wealth Management LLC bought a new stake in CVS Health Corporation (NYSE:CVS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,184 shares of the pharmacy operator’s stock, valued at approximately $3,536,000.

Several other hedge funds have also recently added to or reduced their stakes in CVS. Norges Bank bought a new position in CVS Health during the fourth quarter worth about $1,666,265,000. Wellington Management Group LLP grew its stake in shares of CVS Health by 193.2% in the 4th quarter. Wellington Management Group LLP now owns 18,564,392 shares of the pharmacy operator’s stock valued at $1,473,270,000 after purchasing an additional 12,233,675 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of CVS Health in the 2nd quarter worth approximately $932,454,000. Pacer Advisors Inc. lifted its position in shares of CVS Health by 1,020.7% during the 1st quarter. Pacer Advisors Inc. now owns 4,845,221 shares of the pharmacy operator’s stock worth $347,984,000 after buying an additional 4,412,882 shares during the period. Finally, Amundi boosted its stake in CVS Health by 95.3% in the 3rd quarter. Amundi now owns 7,453,980 shares of the pharmacy operator’s stock valued at $572,665,000 after buying an additional 3,637,943 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of analyst reports. Cantor Fitzgerald upped their price target on CVS Health from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CVS Health from $88.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. TD Cowen upped their target price on shares of CVS Health from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Sanford C. Bernstein lifted their price target on shares of CVS Health from $94.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Argus boosted their price target on shares of CVS Health from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Twenty-two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.75.

Insider Buying and Selling at CVS Health

In related news, Director Larry Robbins sold 370,462 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were 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 owned 4,824,799 shares in the company, valued at $450,877,466.55. The trade was a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

CVS Health Stock Performance

CVS Health stock opened at $93.99 on Tuesday. The stock has a 50-day simple moving average of $102.46 and a 200 day simple moving average of $88.41. The stock has a market capitalization of $120.21 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 0.93 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 0.74. CVS Health Corporation has a 12-month low of $69.40 and a 12-month high of $110.68.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.71. The firm had revenue of $106.10 billion for the quarter, compared to analyst estimates of $100.03 billion. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 EPS. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. On average, research analysts anticipate that CVS Health Corporation will post 8.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health’s dividend payout ratio is 70.37%.

CVS Health Company 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.