Pzena Investment Management LLC Buys Shares of 11,769,536 CVS Health Corporation $CVS

Pzena Investment Management LLC purchased a new position in shares of CVS Health Corporation (NYSE:CVS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,769,536 shares of the pharmacy operator’s stock, valued at approximately $1,217,558,000. CVS Health accounts for about 3.6% of Pzena Investment Management LLC’s portfolio, making the stock its 4th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of CVS. Caitong International Asset Management Co. Ltd increased its position in CVS Health by 407.2% during the third 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 during the last quarter. Swiss RE Ltd. purchased a new position in CVS Health during the fourth quarter worth about $26,000. Sankala Group LLC acquired a new position in CVS Health in the 4th quarter valued at about $28,000. Global Trust Asset Management LLC boosted its holdings in CVS Health by 344.8% in the 1st quarter. Global Trust Asset Management LLC now owns 387 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of CVS Health in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group lifted their price target on shares of CVS Health from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft increased their price objective on CVS Health from $88.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Barclays raised their target price on CVS Health from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Cantor Fitzgerald lifted their target price on CVS Health from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company upped their price target on CVS Health from $103.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Twenty-two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $106.75.

Insider Activity at CVS Health

In related news, Director Larry Robbins sold 1,018,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $93.82, for a total value of $95,508,760.00. Following the transaction, the director owned 5,195,261 shares of the company’s stock, valued at $487,419,387.02. This represents a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

CVS Health Stock Down 3.3%

CVS Health stock opened at $93.99 on Tuesday. The company has a market capitalization of $120.21 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.66 and a current ratio of 0.87. CVS Health Corporation has a fifty-two week low of $69.40 and a fifty-two week high of $110.68. The firm has a 50 day moving average price of $102.46 and a 200 day moving average price of $88.41.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.71. The company 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 business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Research analysts expect that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were given 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 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.