Jim Cramer is Talking About These 5 Stocks in September

2. CVS Health Corporation (NYSE:CVS)

Number of Hedge Fund Holders: 65

Jim Cramer mentioned CVS Health Corporation (NYSE:CVS) on one of his “lightning rounds” this September and said that the stock is a “buy”. As of September 9, CVS Health Corporation (NYSE:CVS) has gained 19.6% over the past twelve months and is offering a forward dividend yield of 2.2%, which the company backs with free cash flows of $15.8 billion.

On September 5, CVS Health Corporation (NYSE:CVS) announced that it will be acquiring Signify Health Inc. (NYSE:SGFY) for $30.50 per share, in an all-cash transaction valued at $8 billion. The deal is expected to close in the first half of 2023.

On September 7, Evercore ISI analyst Elizabeth Anderson raised her price target on CVS Health Corporation (NYSE:CVS) to $125 from $120 and reiterated a buy-side Outperform rating on the shares.

At the end of Q2 2022, 65 hedge funds held stakes in CVS Health Corporation (NYSE:CVS) worth $2.03 billion. This is compared to 72 positions in the previous quarter with stakes worth $1.56 billion.

As of June 30, AQR Capital Management owns more than 3.3 million shares of CVS Health Corporation (NYSE:CVS) and is the most prominent shareholder in the company. The fund’s stakes are valued at $312.6 million.