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

Handelsbanken Fonder AB lessened its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 3.2% during the 1st quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in CVS Health during the fourth quarter worth $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health during the fourth quarter worth about $29,000. McIlrath & Eck LLC grew its holdings in shares of CVS Health by 32.6% during the fourth 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 last quarter. Financial Perspectives Inc lifted its holdings in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after buying an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. grew its position in shares of CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after buying an additional 437 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVS. 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 note on Tuesday, April 15th. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Truist Financial upped their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.75.

Insider Buying and Selling

In related news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director now directly owns 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is owned by insiders.

CVS Health Stock Up 0.3%

CVS Health stock traded up $0.18 during midday trading on Thursday, reaching $65.90. The stock had a trading volume of 2,288,601 shares, compared to its average volume of 10,989,814. The stock has a market capitalization of $83.36 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The firm's fifty day simple moving average is $65.11 and its 200-day simple moving average is $60.05. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

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, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. CVS Health's revenue was up 7.0% compared to the same quarter last year. As a group, analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Tuesday, April 22nd. CVS Health's payout ratio is 63.48%.

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.