Free Trial

CVS Health Corporation (NYSE:CVS) Position Lowered by KLP Kapitalforvaltning AS

CVS Health logo with Medical background

KLP Kapitalforvaltning AS lessened its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 14.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 462,303 shares of the pharmacy operator's stock after selling 76,100 shares during the quarter. KLP Kapitalforvaltning AS's holdings in CVS Health were worth $31,321,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GW&K Investment Management LLC lifted its stake in shares of CVS Health by 39.4% during the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after purchasing an additional 180 shares during the period. McIlrath & Eck LLC lifted its stake in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares during the period. Sierra Ocean LLC lifted its stake in shares of CVS Health by 584.8% during the 1st quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock worth $49,000 after purchasing an additional 614 shares during the period. MV Capital Management Inc. lifted its stake in shares of CVS Health by 63.9% during the 1st quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock worth $50,000 after purchasing an additional 289 shares during the period. Finally, Dunhill Financial LLC lifted its stake in shares of CVS Health by 147.2% during the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock worth $51,000 after purchasing an additional 446 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Down 4.9%

NYSE CVS traded down $3.03 during trading hours on Thursday, hitting $58.82. The company had a trading volume of 12,429,501 shares, compared to its average volume of 10,014,127. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The company has a market capitalization of $74.41 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 0.87 and a beta of 0.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The firm's 50 day moving average is $64.68 and its 200 day moving average is $63.22.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. Sell-side analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a $0.665 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.52%. CVS Health's payout ratio is currently 63.48%.

Wall Street Analyst Weigh In

CVS has been the subject of a number of research analyst reports. UBS Group dropped their price objective on CVS Health from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Tuesday. Jefferies Financial Group upped their price objective on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price objective (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Morgan Stanley restated an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.82.

Read Our Latest Analysis on CVS Health

Insiders Place Their Bets

In other news, Director Guy P. Sansone acquired 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.22% of the stock is currently owned by insiders.

CVS Health Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Should You Invest $1,000 in CVS Health Right Now?

Before you consider CVS Health, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVS Health wasn't on the list.

While CVS Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Investing Strategies To Help Grow Your Retirement Income Cover

Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Joby vs. Archer: The $10 Billion eVTOL Battle
3 Small-Cap Biotech Stocks With Catalysts Too Big to Ignore
AI Stocks Are Printing Money — These 3 Are Just Getting Started

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines