Nordea Investment Management AB Sells 70,138 Shares of CVS Health Corporation $CVS

Key Points

• Nordea Investment Management AB reduced its stake in CVS Health by 1.6%, selling 70,138 shares during the second quarter, and now owns 4,341,044 shares valued at approximately $298 million.
• CVS Health reported a quarterly earnings per share (EPS) of $1.81, exceeding estimates, with revenue of $98.92 billion during the quarter, reflecting an 8.4% year-over-year increase.
• The company is set to pay a quarterly dividend of $0.665 per share on November 3rd, with a current yield of 3.3% and a payout ratio of 74.30%.

Nordea Investment Management AB lowered its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,341,044 shares of the pharmacy operator's stock after selling 70,138 shares during the quarter. Nordea Investment Management AB owned 0.34% of CVS Health worth $298,099,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVS. Hazlett Burt & Watson Inc. lifted its position in shares of CVS Health by 10.9% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator's stock worth $117,000 after purchasing an additional 165 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of CVS Health by 0.8% during the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after purchasing an additional 166 shares in the last quarter. Williams Financial LLC lifted its position in shares of CVS Health by 2.5% during the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator's stock worth $478,000 after purchasing an additional 167 shares in the last quarter. Hemington Wealth Management lifted its position in shares of CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 172 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its holdings in CVS Health by 1.0% in the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock valued at $1,159,000 after buying an additional 174 shares during the period. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 0.9%

Shares of NYSE:CVS opened at $81.40 on Friday. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $81.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The company has a market capitalization of $103.24 billion, a PE ratio of 22.74, a PEG ratio of 0.89 and a beta of 0.60. The company has a 50 day moving average price of $73.65 and a two-hundred day moving average price of $68.02.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.3%. CVS Health's dividend payout ratio is currently 74.30%.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVS. Morgan Stanley increased their price objective on shares of CVS Health from $82.00 to $89.00 and gave the company an "overweight" rating in a report on Tuesday. Bernstein Bank cut their price objective on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Barclays increased their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Finally, UBS Group upgraded shares of CVS Health from a "neutral" rating to a "buy" rating and increased their price objective for the company from $67.00 to $79.00 in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.05.

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.

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