OLD National Bancorp IN Raises Holdings in CVS Health Co. (NYSE:CVS) (2024)

OLD National Bancorp IN boosted its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,562 shares of the pharmacy operator's stock after buying an additional 16,028 shares during the period. OLD National Bancorp IN's holdings in CVS Health were worth $16,334,000 as of its most recent filing with the Securities & Exchange Commission.

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A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Riverpoint Wealth Management Holdings LLC purchased a new position in CVS Health in the fourth quarter valued at about $218,000. Canoe Financial LP grew its position in shares of CVS Health by 95.1% in the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator's stock worth $139,177,000 after buying an additional 859,134 shares during the last quarter. Meritage Portfolio Management lifted its position in CVS Health by 30.6% during the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator's stock valued at $5,237,000 after acquiring an additional 15,548 shares during the last quarter. Steph & Co. boosted its stake in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator's stock valued at $35,000 after acquiring an additional 288 shares in the last quarter. Finally, Forum Financial Management LP grew its holdings in CVS Health by 19.4% in the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator's stock worth $1,410,000 after purchasing an additional 2,901 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS Health stock traded down $0.74 during trading hours on Friday, reaching $57.11. The stock had a trading volume of 8,345,042 shares, compared to its average volume of 11,546,901. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $71.69 billion, a PE ratio of 10.04, a PEG ratio of 0.57 and a beta of 0.52. The stock's 50 day moving average is $59.45 and its 200 day moving average is $66.25.

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CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.09. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.21 earnings per share. Equities analysts expect that CVS Health Co. will post 7 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health's payout ratio is 46.75%.

Analyst Ratings Changes

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A number of research firms have recently weighed in on CVS. JPMorgan Chase & Co. lowered their price objective on CVS Health from $101.00 to $86.00 and set an "overweight" rating for the company in a research report on Thursday, May 30th. Robert W. Baird assumed coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a "neutral" rating and a $61.00 price objective for the company. Evercore ISI dropped their target price on shares of CVS Health from $65.00 to $62.00 and set an "outperform" rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $64.00 to $63.00 and set a "hold" rating for the company in a report on Friday. Finally, Argus dropped their price objective on shares of CVS Health from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 8th. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and an average price target of $73.19.

Get Our Latest Analysis on CVS

About CVS Health

(Free Report)

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.

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