DNB Asset Management AS Raises Holdings in CVS Health Corporation $CVS

DNB Asset Management AS grew its stake in shares of CVS Health Corporation (NYSE:CVS) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,956 shares of the pharmacy operator’s stock after acquiring an additional 6,621 shares during the quarter. DNB Asset Management AS’s holdings in CVS Health were worth $15,724,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CVS. Vanguard Group Inc. raised its holdings in shares of CVS Health by 1.7% in the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock worth $8,305,132,000 after buying an additional 2,063,737 shares during the last quarter. Dodge & Cox grew its holdings in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after buying an additional 3,353,223 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CVS Health by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock valued at $1,966,083,000 after acquiring an additional 675,824 shares during the period. Invesco Ltd. raised its stake in CVS Health by 13.2% in the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after acquiring an additional 2,375,764 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in CVS Health by 14.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock worth $1,037,205,000 after acquiring an additional 1,942,886 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CVS shares. Wells Fargo & Company reduced their price objective on CVS Health from $103.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Royal Bank Of Canada raised their price target on shares of CVS Health from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Barclays upped their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Mizuho raised their target price on shares of CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Finally, The Goldman Sachs Group initiated coverage on shares of CVS Health in a report on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.41.

CVS Health Stock Up 2.5%

CVS stock opened at $77.92 on Friday. CVS Health Corporation has a one year low of $43.56 and a one year high of $85.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. The firm’s fifty day moving average is $78.12 and its 200 day moving average is $70.25. The firm has a market cap of $98.91 billion, a PE ratio of 205.06, a P/E/G ratio of 0.87 and a beta of 0.60.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. CVS Health’s payout ratio is 700.00%.

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.