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

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. CVS Health Co. has a 12-month low of $52.77 and a 12-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’s 50 day simple moving average is $59.41 and its 200-day simple moving average is $58.79. The firm has a market cap of $69.35 billion, a P/E ratio of 13.99, a PEG ratio of 0.93 and a beta of 0.55.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 EPS. Equities analysts anticipate that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is presently 67.51%.

Institutional Trading of CVS Health

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health during the third quarter worth approximately $32,000. First Community Trust NA grew its holdings in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the 3rd quarter valued at approximately $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CVS shares. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday. Truist Financial raised their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.