Forsta AP Fonden Trims Stake in CVS Health Corp (CVS)

Forsta AP Fonden lowered its holdings in shares of CVS Health Corp (NYSE:CVS) by 33.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the pharmacy operator’s stock after selling 100,352 shares during the period. Forsta AP Fonden’s holdings in CVS Health were worth $16,264,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CVS. SNS Financial Group LLC purchased a new position in CVS Health during the 1st quarter valued at about $316,000. Hartland & Co. LLC boosted its stake in shares of CVS Health by 3.4% during the 1st quarter. Hartland & Co. LLC now owns 18,671 shares of the pharmacy operator’s stock worth $1,466,000 after purchasing an additional 619 shares during the last quarter. Anchor Capital Advisors LLC boosted its stake in shares of CVS Health by 12.5% during the 1st quarter. Anchor Capital Advisors LLC now owns 270,738 shares of the pharmacy operator’s stock worth $21,253,000 after purchasing an additional 30,057 shares during the last quarter. Cypress Capital Group boosted its stake in shares of CVS Health by 192.1% during the 1st quarter. Cypress Capital Group now owns 33,727 shares of the pharmacy operator’s stock worth $2,648,000 after purchasing an additional 22,180 shares during the last quarter. Finally, New England Asset Management Inc. boosted its stake in shares of CVS Health by 0.6% during the 1st quarter. New England Asset Management Inc. now owns 32,624 shares of the pharmacy operator’s stock worth $2,561,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 81.62% of the company’s stock.

CVS has been the topic of several research analyst reports. Royal Bank of Canada initiated coverage on shares of CVS Health in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price on the stock. Jefferies Group lifted their price target on shares of CVS Health from $82.00 to $86.00 and gave the company a “hold” rating in a research report on Friday, September 15th. Leerink Swann lifted their price target on shares of CVS Health from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, January 8th. Oppenheimer reiterated a “buy” rating and set a $95.00 price objective on shares of CVS Health in a research note on Monday, October 9th. Finally, Mizuho set a $90.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $86.66.

In other news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the transaction, the executive vice president now owns 15,556 shares in the company, valued at approximately $1,166,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

CVS Health Corp (NYSE:CVS) traded down $0.24 during midday trading on Friday, reaching $78.78. The company’s stock had a trading volume of 7,100,000 shares, compared to its average volume of 10,770,000. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. The firm has a market cap of $79,800.00, a P/E ratio of 16.28, a PEG ratio of 1.25 and a beta of 0.90. CVS Health Corp has a 12-month low of $66.45 and a 12-month high of $84.72.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 EPS. research analysts forecast that CVS Health Corp will post 5.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.54%. CVS Health’s dividend payout ratio is 41.32%.

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CVS Health Profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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