Manning & Napier Advisors LLC Takes $9.76 Million Position in CVS Health Corporation $CVS

Manning & Napier Advisors LLC purchased a new position in CVS Health Corporation (NYSE:CVS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 94,235 shares of the pharmacy operator’s stock, valued at approximately $9,761,000.

A number of other hedge funds also recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its holdings in shares of CVS Health by 83.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,089,694 shares of the pharmacy operator’s stock worth $112,729,000 after purchasing an additional 496,124 shares during the period. State Street Corp boosted its stake in CVS Health by 2.1% during the fourth quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock worth $4,776,182,000 after buying an additional 1,245,457 shares during the period. Legal & General Group Plc increased its position in CVS Health by 0.3% during the fourth quarter. Legal & General Group Plc now owns 9,309,182 shares of the pharmacy operator’s stock valued at $738,777,000 after acquiring an additional 31,249 shares during the last quarter. Deutsche Bank AG raised its stake in shares of CVS Health by 28.4% in the fourth quarter. Deutsche Bank AG now owns 4,666,495 shares of the pharmacy operator’s stock valued at $370,333,000 after acquiring an additional 1,031,998 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of CVS Health in the 2nd quarter worth about $49,622,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CVS shares. Wells Fargo & Company upped their price target on shares of CVS Health from $103.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Cantor Fitzgerald boosted 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. Bank of America increased their price target on CVS Health from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. DA Davidson raised their price target on CVS Health from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Barclays upped their price objective on CVS Health from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Twenty-two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $107.17.

CVS Health Price Performance

Shares of CVS opened at $94.06 on Tuesday. The stock has a market capitalization of $120.31 billion, a PE ratio of 24.88, a PEG ratio of 0.85 and a beta of 0.61. The company has a 50 day moving average price of $101.88 and a 200-day moving average price of $89.08. 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 $69.51 and a fifty-two week high of $110.68.

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

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, July 23rd. CVS Health’s dividend payout ratio (DPR) is currently 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.