Skandinaviska Enskilda Banken AB publ Purchases 5,300 Shares of CVS Health Co. (NYSE:CVS)

Skandinaviska Enskilda Banken AB publ increased its position in shares of CVS Health Co. (NYSE:CVS) by 2.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 255,435 shares of the pharmacy operator’s stock after buying an additional 5,300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in CVS Health were worth $15,086,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CVS. Gryphon Financial Partners LLC raised its stake in CVS Health by 48.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock worth $654,000 after buying an additional 2,653 shares during the last quarter. Allstate Corp grew its holdings in CVS Health by 13.3% in the fourth quarter. Allstate Corp now owns 4,207 shares of the pharmacy operator’s stock worth $332,000 after purchasing an additional 493 shares during the period. US Bancorp DE grew its holdings in CVS Health by 3.2% in the fourth quarter. US Bancorp DE now owns 991,437 shares of the pharmacy operator’s stock worth $78,284,000 after purchasing an additional 31,027 shares during the period. FineMark National Bank & Trust grew its holdings in CVS Health by 2.4% in the fourth quarter. FineMark National Bank & Trust now owns 21,461 shares of the pharmacy operator’s stock worth $1,695,000 after purchasing an additional 505 shares during the period. Finally, TCW Group Inc. acquired a new stake in CVS Health in the fourth quarter worth $1,605,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $57.51 on Friday. The firm has a market cap of $72.20 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 0.79 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The firm’s 50-day simple moving average is $58.31 and its two-hundred day simple moving average is $62.60.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CVS shares. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. 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 report on Thursday, August 8th. Baird R W upgraded shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company 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.