The Vanguard Group, Inc. recently announced the acquisition of new stake in CVS Health Corp (NYSE:CVS). The institutional investor has increased its shareholding in the Healthcare company by 0.38% to 111.57 million shares with purchase of 0.42 million shares. This fresh investment now brings its stake to 8.67% valued currently at $8.81 billion. In addition, Capital Research & Management Co raised its holdings by 9.93 million to 40.43 million shares. And Dodge & Cox has lifted its position by 66.76% or 10.7 million shares – to 26.72 million shares.
Currently, there are 1.30B common shares owned by the public and among those 1.28B shares have been available to trade.
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Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 510,268 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 261,891 shares.
The top 3 mutual fund holders in CVS Health Corp are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Washington Mutual Investors Fund. Vanguard Total Stock Market ETF owns 40.41 million shares of the company’s stock, all valued at over $3.19 billion. The company bought an additional 0.14 million shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 61615.0 shares to see its total holdings expand to 31.37 million shares valued at over $2.48 billion and representing 2.44% of the shares outstanding. Washington Mutual Investors Fund bought 0.61 million shares to bring its total holdings to over 30.73 million shares at a value of $2.43 billion. Washington Mutual Investors Fund now owns shares totaling to 2.39% of the shares outstanding.
However, the script later moved the day high at 73.59, down -0.89%. The company’s stock has a 5-day price change of -7.23% and 3.00% over the past three months. CVS shares are trading -7.27% year to date (YTD), with the 12-month market performance down to -16.98% lower. It has a 12-month low price of $64.41 and touched a high of $90.62 over the same period. CVS has an average intraday trading volume of 9.14 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.98%, -0.68%, and 2.36% respectively.
Institutional ownership of CVS Health Corp (NYSE: CVS) shares accounts for 79.19% of the company’s 1.30B shares outstanding. Mutual fund holders own 35.09%, while other institutional holders and individual stakeholders account for 44.98% and 1.04% respectively.
It has a market capitalization of $94.23B and a beta (3y monthly) value of 0.50. The stock’s trailing 12-month PE ratio is 11.04, while the earnings-per-share (ttm) stands at $6.63. The company has a PEG of 4.71 and a Quick Ratio of 0.64 with the debt-to-equity ratio at 1.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.90% over the week and 1.91% over the month.
Analysts forecast that CVS Health Corp (CVS) will achieve an EPS of $1.98 for the current quarter, $2.03 for the next quarter and $8.52 for 2024. The lowest estimate earnings-per-share for the quarter is $1.89 while analysts give the company a high EPS estimate of $2.03. Comparatively, EPS for the current quarter was $1.99 a year ago. Earnings per share for the fiscal year are expected to decrease by -1.12%, and -0.89% over the next financial year. EPS should grow at an annualized rate of 2.35% over the next five years, compared to -13.40% over the past 5-year period.
Looking at the support for the CVS, a number of firms have released research notes about the stock. HSBC Securities stated their Buy rating for the stock in a research note on December 22, 2023, with the firm’s price target at $94.
