Avanza Fonder AB Purchases New Shares in CVS Health Co. (NYSE:CVS)

Avanza Fonder AB acquired a new position in shares of CVS Health Co. (NYSE:CVS) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 105,704 shares of the pharmacy operator’s stock, valued at approximately $4,745,000.

A number of other hedge funds have also bought and sold shares of CVS. Edgestream Partners L.P. bought a new stake in shares of CVS Health during the 2nd quarter worth approximately $1,140,000. WCG Wealth Advisors LLC lifted its position in shares of CVS Health by 24.4% during the second quarter. WCG Wealth Advisors LLC now owns 28,866 shares of the pharmacy operator’s stock worth $1,705,000 after purchasing an additional 5,668 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of CVS Health by 17.1% during the second quarter. Intech Investment Management LLC now owns 56,601 shares of the pharmacy operator’s stock valued at $3,343,000 after purchasing an additional 8,261 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of CVS Health by 3.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,524,733 shares of the pharmacy operator’s stock worth $90,051,000 after purchasing an additional 48,903 shares during the last quarter. Finally, Drexel Morgan & Co. increased its stake in CVS Health by 99.6% in the 2nd quarter. Drexel Morgan & Co. now owns 200,165 shares of the pharmacy operator’s stock worth $11,822,000 after buying an additional 99,900 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $52.72 on Friday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock has a fifty day moving average price of $51.39 and a 200-day moving average price of $56.36. 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 firm has a market cap of $66.35 billion, a PE ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter last year, the company earned $2.21 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 5.05%. CVS Health’s payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research analyst reports. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler decreased their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Evercore ISI increased their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health 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.