Swedbank AB Raises Stock Position in CVS Health Co. (NYSE:CVS)

Swedbank AB raised its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,388,889 shares of the pharmacy operator’s stock after purchasing an additional 7,620 shares during the quarter. Swedbank AB’s holdings in CVS Health were worth $87,333,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CVS. First Community Trust NA grew its holdings in shares of CVS Health by 116.2% during the second 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. Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the 3rd quarter valued at about $33,000. Creekmur Asset Management LLC acquired a new position in shares of CVS Health during the 4th quarter valued at about $34,000. Steph & Co. boosted its position in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Finally, ORG Partners LLC boosted its position in shares of CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 3.6 %

CVS stock opened at $65.01 on Wednesday. The firm has a market capitalization of $81.61 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.93 and a beta of 0.54. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company’s 50 day moving average price is $59.45 and its 200 day moving average price is $60.70.

CVS Health (NYSE:CVS) last announced 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. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. On average, equities research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.09%. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVS shares. Barclays raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $63.00 to $82.00 in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Truist Financial increased their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.26.

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.