105,704 Shares in CVS Health Co. (NYSE:CVS) Purchased by Avanza Fonder AB

Avanza Fonder AB purchased a new position in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 105,704 shares of the pharmacy operator’s stock, valued at approximately $4,745,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the third quarter valued at $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health during the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health during the third quarter worth about $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in CVS Health during the third quarter valued at approximately $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of CVS Health stock opened at $52.72 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The business’s 50 day moving average price is $51.39 and its 200 day moving average price is $56.36. The company has a market cap of $66.35 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.72 and a beta of 0.59. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVS. Barclays dropped their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Truist Financial lowered their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Finally, Royal Bank of Canada cut their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.