Nordea Investment Management AB Sells 1,579,558 Shares of CVS Health Co. (NYSE:CVS)

Nordea Investment Management AB decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 23.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,211,224 shares of the pharmacy operator’s stock after selling 1,579,558 shares during the quarter. Nordea Investment Management AB owned 0.41% of CVS Health worth $233,671,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its holdings in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. State Street Corp raised its stake in shares of CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP bought a new position in CVS Health in the third quarter worth $121,987,000. Pathway Financial Advisers LLC increased its holdings in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of CVS Health by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after buying an additional 1,327,855 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $45.82 on Tuesday. The stock has a market cap of $57.66 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 0.85 and a beta of 0.59. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $52.63 and its 200 day simple moving average is $56.97.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the company earned $2.21 EPS. CVS Health’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that CVS Health Co. will post 5.32 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, February 3rd. Investors of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.81%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. TD Cowen raised their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. Finally, Piper Sandler reduced their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.71.

CVS Health 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.