CVS Health Co. (NYSE:CVS) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of CVS Health Co. (NYSE:CVS) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 582,270 shares of the pharmacy operator’s stock after buying an additional 7,681 shares during the quarter. Handelsbanken Fonder AB’s holdings in CVS Health were worth $36,613,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. LifePlan Financial LLC raised its holdings in CVS Health by 12.1% in the 3rd quarter. LifePlan Financial LLC now owns 21,937 shares of the pharmacy operator’s stock valued at $1,379,000 after acquiring an additional 2,375 shares during the last quarter. Apella Capital LLC purchased a new stake in shares of CVS Health in the third quarter valued at $249,000. Alpha Omega Wealth Management LLC increased its stake in CVS Health by 1.3% in the third quarter. Alpha Omega Wealth Management LLC now owns 153,687 shares of the pharmacy operator’s stock valued at $9,664,000 after purchasing an additional 1,969 shares during the last quarter. Farmers Trust Co. boosted its stake in CVS Health by 7.6% in the 3rd quarter. Farmers Trust Co. now owns 79,493 shares of the pharmacy operator’s stock worth $4,999,000 after buying an additional 5,634 shares during the last quarter. Finally, Czech National Bank grew its holdings in CVS Health by 7.2% in the 3rd quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock valued at $16,124,000 after buying an additional 17,206 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 2.7 %

Shares of NYSE CVS traded up $1.67 during midday trading on Friday, reaching $64.59. 16,313,877 shares of the company’s stock were exchanged, compared to its average volume of 11,032,696. The stock has a market capitalization of $81.08 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The business’s fifty day moving average price is $58.60 and its two-hundred day moving average price is $61.47.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period in the prior year, the company posted $2.21 EPS. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts forecast that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is currently 46.75%.

Wall Street Analyst Weigh In

CVS has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Wells Fargo & Company lifted their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $59.00 to $85.00 in a research report on Friday. Finally, Barclays cut their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.40.

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.