UMB Bank is not reducing its holdings of shares in CVS Health Co. (NYSE:CVS)

VaselineAugust 31, 2024

0 3 minutes read

UMB Bank has reduced its holdings in CVS Health Co. (NYSE:CVS – Free Report) by 34.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,702 shares of the pharmacy operator’s stock after selling 12,447 shares during the quarter. UMB Bank na’s holdings in CVS Health were worth $1,400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have added to or reduced their stakes in the company. USA Financial Formulas boosted its holdings in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health in the 4th quarter valued at approximately $32,000. Creekmur Asset Management LLC bought a new position in shares of CVS Health in the 4th quarter valued at approximately $34,000. Steph & Co. raised its holdings in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in CVS Health in the fourth quarter valued at approximately $36,000. 80.66% of the shares are held by hedge funds and other institutional investors.

Changes in Analyst Ratings

A number of research firms have weighed in on CVS. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and decreased their price target for the stock from $99.00 to $59.00 in a research report on Tuesday , May 7. Robert W. Baird began coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company boosted their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Barclays cut their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.24, based on data from MarketBeat.com.

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CVS Health stock performance

Shares of CVS Health opened at $57.24 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.81, and a debt-to-equity ratio of 0.78. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company’s 50-day moving average price is $58.59 and its 200-day moving average price is $64.66. The company has a market cap of $71.86 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52.

CVS Health (NYSE:CVS – Get Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. 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%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. In the same period last year, the company posted earnings of $2.21 per share. On average, equities research analysts forecast that CVS Health Co. will show 7 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a dividend of $0.665 per share. This represents a dividend of $2.66 on an annualized basis and a yield of 4.65%. The ex-dividend date was Monday, July 22. CVS Health’s dividend payout ratio (DPR) is 46.75%.

CVS Health Company Profile

(Free report)

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