Lansforsakringar Fondforvaltning AB publ Lowers Stock Position in CVS Health Corporation $CVS

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its stake in CVS Health Corporation by 2.7%, now holding 411,362 shares valued at approximately $27.87 million.
• CVS Health's recent quarterly earnings exceeded estimates, reporting $1.81 earnings per share and revenue of $98.92 billion, a year-over-year increase of 8.4%.
• Analysts generally have a positive outlook on CVS Health, with two analysts giving a Strong Buy rating and an average consensus target price of $77.56.

Lansforsakringar Fondforvaltning AB publ lowered its position in CVS Health Corporation (NYSE:CVS - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 411,362 shares of the pharmacy operator's stock after selling 11,537 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in CVS Health were worth $27,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. McIlrath & Eck LLC raised its position in CVS Health by 32.6% in the 4th 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 last quarter. Costello Asset Management INC increased its stake in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after purchasing an additional 422 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of CVS Health in the first quarter valued at about $39,000. Park Square Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter worth about $43,000. Finally, GW&K Investment Management LLC grew its holdings in shares of CVS Health by 39.4% during the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after buying an additional 180 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVS shares. Jefferies Financial Group increased their price objective on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Royal Bank Of Canada increased their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Barclays lifted their price objective on shares of CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Cowen restated a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $77.56.

CVS Health Price Performance

CVS Health stock traded up $1.03 during midday trading on Monday, reaching $73.17. The company's stock had a trading volume of 6,391,563 shares, compared to its average volume of 6,107,539. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $73.23. The firm has a market capitalization of $92.80 billion, a PE ratio of 20.44, a P/E/G ratio of 0.81 and a beta of 0.62. The stock's 50 day simple moving average is $66.00 and its 200 day simple moving average is $65.72.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.6%. CVS Health's payout ratio is 74.30%.

About CVS Health

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.