Forsta AP Fonden Has $17.93 Million Stock Holdings in CVS Health Corporation $CVS

Forsta AP Fonden reduced its stake in CVS Health Corporation (NYSE:CVS) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,900 shares of the pharmacy operator’s stock after selling 5,400 shares during the quarter. Forsta AP Fonden’s holdings in CVS Health were worth $17,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. acquired a new stake in CVS Health in the 2nd quarter valued at about $7,512,000. National Pension Service lifted its position in CVS Health by 23.1% during the second quarter. National Pension Service now owns 3,880,433 shares of the pharmacy operator’s stock worth $267,672,000 after purchasing an additional 728,036 shares during the period. Simplify Asset Management Inc. boosted its stake in CVS Health by 415.8% in the second quarter. Simplify Asset Management Inc. now owns 46,966 shares of the pharmacy operator’s stock valued at $3,240,000 after buying an additional 37,861 shares in the last quarter. Boston Partners bought a new stake in shares of CVS Health during the second quarter worth about $3,324,000. Finally, Weil Company Inc. acquired a new position in CVS Health in the 2nd quarter valued at approximately $200,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 0.7%

Shares of NYSE:CVS opened at $80.44 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $85.15. The business has a 50 day simple moving average of $77.50 and a two-hundred day simple moving average of $69.74. The firm has a market capitalization of $102.11 billion, a PE ratio of 211.69, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.24. The company had revenue of $102.87 billion during the quarter, compared to the consensus estimate of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. CVS Health’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, October 23rd. CVS Health’s dividend payout ratio is 700.00%.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Evercore ISI lifted their price target on CVS Health from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Baird R W upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Sanford C. Bernstein upped their price target on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Finally, Wolfe Research increased their price target on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $89.45.

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.