AMF Tjanstepension AB Buys 34,198 Shares of CVS Health Co. (NYSE:CVS)

AMF Tjanstepension AB lifted its holdings in CVS Health Co. (NYSE:CVS) by 124.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,744 shares of the pharmacy operator’s stock after buying an additional 34,198 shares during the quarter. AMF Tjanstepension AB’s holdings in CVS Health were worth $3,882,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C purchased a new position in shares of CVS Health in the 2nd quarter worth about $57,584,000. Susquehanna Fundamental Investments LLC boosted its holdings in shares of CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after acquiring an additional 145,158 shares during the last quarter. Steph & Co. grew its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the period. Douglas Lane & Associates LLC lifted its position in CVS Health by 1.6% during the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after purchasing an additional 16,840 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new stake in CVS Health in the fourth quarter worth approximately $151,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 1.1 %

Shares of CVS stock opened at $62.24 on Thursday. The stock’s fifty day moving average price is $58.44 and its 200 day moving average price is $61.66. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a market cap of $78.13 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 0.81 and a beta of 0.53.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.27%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Evercore ISI lowered their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company raised their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Barclays reduced their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

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.