DNB Asset Management AS Boosts Stock Holdings in CVS Health Corporation $CVS

DNB Asset Management AS raised its position in shares of CVS Health Corporation (NYSE:CVS) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other large investors have also recently made changes to their positions in CVS. Avion Wealth lifted its holdings in CVS Health by 99.0% in the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after purchasing an additional 189 shares in the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of CVS Health in the second quarter worth about $30,000. Bell Investment Advisors Inc boosted its position in CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 248 shares during the last quarter. Roxbury Financial LLC grew its stake in CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 202 shares in the last quarter. Finally, ORG Partners LLC raised its holdings in CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 377 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE CVS opened at $77.92 on Friday. The stock has a fifty day simple moving average of $78.12 and a 200-day simple moving average of $70.25. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. The stock 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 Corporation has a twelve month low of $43.56 and a twelve month high of $85.15.

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

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 700.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Mizuho upped their price target on CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of CVS Health in a research note on Monday. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Jefferies Financial Group boosted their price target on shares of CVS Health from $92.00 to $98.00 in a research report on Thursday, October 30th. Finally, Wells Fargo & Company dropped their price objective on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.41.

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.