Handelsbanken Fonder AB Lowers Stake in CVS Health Co. (NYSE:CVS)

Handelsbanken Fonder AB reduced its stake in CVS Health Co. (NYSE:CVS) by 3.2% during the first quarter, HoldingsChannel reports. The fund owned 584,214 shares of the pharmacy operator’s stock after selling 19,011 shares during the period. Handelsbanken Fonder AB’s holdings in CVS Health were worth $39,580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in shares of CVS Health during the fourth quarter valued at $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health during the 4th quarter worth $29,000. McIlrath & Eck LLC grew its holdings in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Financial Perspectives Inc increased its holdings in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after acquiring an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. increased its stake in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after purchasing an additional 437 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 0.5%

NYSE:CVS opened at $64.21 on Wednesday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The firm has a 50 day moving average of $65.06 and a 200 day moving average of $60.01. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $81.22 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 EPS. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 63.48%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada upped their price target on CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Robert W. Baird upped their price objective on CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Wolfe Research increased their target price on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.75.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director now owns 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.22% of the company’s stock.

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.