CVS Health Co. (NYSE:CVS) Stock Position Raised by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of CVS Health Co. (NYSE:CVS) by 41.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,553 shares of the pharmacy operator’s stock after buying an additional 17,750 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in CVS Health were worth $3,805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. Pzena Investment Management LLC increased its holdings in shares of CVS Health by 132.9% in 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 purchasing an additional 7,382,931 shares during the period. Capital International Investors boosted its stake in shares of 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 buying an additional 4,226,225 shares during the period. Capital World Investors grew its holdings in shares of 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 in the last quarter. State of Michigan Retirement System raised its holdings in shares of CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after acquiring an additional 1,606,500 shares in the last quarter. Finally, Swedbank AB acquired a new stake in CVS Health during the first quarter valued at $110,816,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 0.3 %

Shares of NYSE CVS opened at $66.63 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a market cap of $83.65 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The firm’s 50-day simple moving average is $59.12 and its 200 day simple moving average is $61.15.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 3.99%. CVS Health’s payout ratio is presently 46.75%.

Analyst Ratings Changes

A number of equities analysts recently commented on CVS shares. Deutsche Bank Aktiengesellschaft dropped their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company increased their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Truist Financial lifted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $63.00 to $82.00 in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.26.

About CVS Health

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.