CVS Health (NYSE:CVS) Shares Unloaded Rep. Thomas R. Suozzi

Representative Thomas R. Suozzi (D-New York) recently sold shares of CVS Health Co. (NYSE:CVS). In a filing disclosed on November 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in CVS Health stock on October 24th. The trade occurred in the Representative’s “MERRILL LYNCH- ADVISOR DISCRETION ACCOUNT- IRA” account.

Representative Thomas R. Suozzi also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Corning (NYSE:GLW) on 10/24/2024.
• Sold $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/24/2024.
• Purchased $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/24/2024.
• Sold $1,001 – $15,000 in shares of Boeing (NYSE:BA) on 10/24/2024.
• Sold $15,001 – $50,000 in shares of Apple (NASDAQ:AAPL) on 10/7/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/2/2024.

CVS Health Trading Down 3.7 %

Shares of CVS stock traded down $2.04 on Friday, hitting $53.05. The stock had a trading volume of 4,140,766 shares, compared to its average volume of 11,285,358. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The firm has a market cap of $66.76 billion, a P/E ratio of 13.79, a PEG ratio of 0.93 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average price of $59.32 and a two-hundred day moving average price of $58.76.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 EPS. As a group, analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is presently 67.51%.

Institutional Trading of CVS Health

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC lifted its stake in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after acquiring an additional 7,382,931 shares during the period. Capital International Investors lifted its stake in CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Capital World Investors lifted its stake in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after acquiring an additional 3,071,613 shares during the period. Finally, TOMS Capital Investment Management LP bought a new position in CVS Health during the 3rd quarter valued at about $121,987,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CVS shares. UBS Group raised their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial increased their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Barclays reduced their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

About Representative Suozzi

Thomas Richard Suozzi (born August 31, 1962) is an American politician, attorney, and accountant serving as the U.S. representative for New York’s 3rd congressional district since 2024 and previously from 2017 to 2023. A member of the Democratic Party, he was the county executive of Nassau County on Long Island from 2002 to 2009, when he was unseated by Republican Ed Mangano. Before that, Suozzi served eight years as the mayor of Glen Cove in Nassau County.

In 2006, he ran unsuccessfully against Eliot Spitzer for the Democratic nomination for governor of New York. Suozzi was elected to the U.S. House of Representatives in 2016 and reelected in 2018 and 2020. He retired from Congress to run again for the Democratic gubernatorial nomination in 2022, losing to incumbent governor Kathy Hochul.

In October 2023, Suozzi announced that he would run for his old congressional seat in 2024.After Congress expelled George Santos that December, a special election to fill the remainder of the term was scheduled for February 13, 2024. Suozzi was selected as the Democratic nominee, and then won the special election, reclaiming the seat for Democrats.

CVS Health Company Profile

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.