CVS Health Co. (NYSE:CVS) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden grew its holdings in shares of CVS Health Co. (NYSE:CVS) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 343,000 shares of the pharmacy operator’s stock after purchasing an additional 29,500 shares during the quarter. Forsta AP Fonden’s holdings in CVS Health were worth $21,568,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVS. Livelsberger Financial Advisory acquired a new stake in CVS Health in the 3rd quarter valued at about $31,000. First Community Trust NA lifted its stake in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in CVS Health during the third quarter worth about $33,000. 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 worth $35,000 after purchasing an additional 592 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group boosted its position in shares of CVS Health by 71.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 247 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVS. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Barclays reduced their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial boosted their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Mizuho reduced their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $74.58.

CVS Health Stock Performance

Shares of CVS Health stock traded up $0.37 during trading hours on Friday, hitting $56.49. 8,439,033 shares of the company were exchanged, compared to its average volume of 11,224,411. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The stock has a market capitalization of $71.06 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.84 and a beta of 0.54. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average of $59.85 and a 200-day moving average of $60.14.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. As a group, analysts expect that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. CVS Health’s dividend payout ratio is presently 47.33%.

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.