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

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 Price Performance

Shares of NYSE CVS opened at $55.11 on Friday. 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 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a market cap of $69.35 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.93 and a beta of 0.55. The stock has a 50 day moving average of $59.41 and a two-hundred day moving average of $58.79.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $2.21 EPS. On average, research analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Hedge Funds Weigh In On CVS Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. TOMS Capital Investment Management LP bought a new position in CVS Health in the third quarter valued at approximately $121,987,000. Kestra Investment Management LLC acquired a new position in shares of CVS Health during the third quarter worth $341,000. B&L Asset Management LLC acquired a new position in shares of CVS Health in the third quarter worth approximately $204,000. Erste Asset Management GmbH bought a new stake in CVS Health during the third quarter valued at $6,109,000. Finally, Cobblestone Capital Advisors LLC NY raised its holdings in shares of CVS Health by 1.5% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 133,848 shares of the pharmacy operator’s stock valued at $8,416,000 after purchasing an additional 1,947 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVS. UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Mizuho reduced their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Truist Financial raised their price target 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. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average 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.