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

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 Up 1.5 %

NYSE CVS opened at $55.11 on Friday. The firm has a market capitalization of $69.35 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a 50-day simple moving average of $59.41 and a 200-day simple moving average of $58.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the firm earned $2.21 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that CVS Health Co. will post 5.44 earnings per share for the current year.

CVS Health Announces Dividend

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. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.83%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Mizuho cut their price objective 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. Barclays reduced their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Hedge Funds Weigh In On CVS Health

A number of hedge funds have recently modified their holdings of CVS. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health in the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the third quarter valued at $31,000. Crewe Advisors LLC purchased a new position in shares of CVS Health during the first quarter valued at $40,000. Reston Wealth Management LLC acquired a new position in CVS Health during the third quarter valued at $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health in the 3rd quarter worth about $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.