Handelsbanken Fonder AB Buys 496,124 Shares of CVS Health Corporation $CVS

Handelsbanken Fonder AB grew its stake in shares of CVS Health Corporation (NYSE:CVS) by 83.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,089,694 shares of the pharmacy operator’s stock after purchasing an additional 496,124 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.09% of CVS Health worth $112,729,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position in CVS Health by 407.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator’s stock valued at $26,000 after buying an additional 281 shares during the period. Swiss RE Ltd. purchased a new position in shares of CVS Health in the fourth quarter valued at about $26,000. Sankala Group LLC bought a new position in shares of CVS Health during the fourth quarter valued at about $28,000. Global Trust Asset Management LLC boosted its holdings in shares of CVS Health by 344.8% during the first quarter. Global Trust Asset Management LLC now owns 387 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 300 shares during the period. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of CVS Health in the fourth quarter worth about $28,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

CVS Health stock opened at $95.67 on Tuesday. CVS Health Corporation has a twelve month low of $64.32 and a twelve month high of $110.68. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $122.36 billion, a P/E ratio of 25.31, a PEG ratio of 0.91 and a beta of 0.61. The stock’s 50 day moving average is $102.36 and its 200 day moving average is $87.91.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.71. CVS Health had a return on equity of 13.12% and a net margin of 1.18%.The business had revenue of $106.10 billion during the quarter, compared to analysts’ expectations of $100.03 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. On average, equities research analysts predict that CVS Health Corporation will post 8.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 annualized dividend and a yield of 2.8%. CVS Health’s payout ratio is 70.37%.

Insider Transactions at CVS Health

In other news, Director Larry Robbins sold 1,983,538 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $94.45, for a total value of $187,345,164.10. Following the transaction, the director owned 6,213,261 shares in the company, valued at approximately $586,842,501.45. This represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 3,372,000 shares of company stock valued at $317,473,598 over the last three months. 0.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CVS shares. Barclays upped their price target on CVS Health from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler reissued an “overweight” rating and set a $113.00 target price on shares of CVS Health in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft upped their target price on CVS Health from $88.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Robert W. Baird set a $107.00 price target on CVS Health in a research note on Thursday. Finally, Sanford C. Bernstein boosted their price objective on shares of CVS Health from $94.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Twenty-two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.46.

CVS Health Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over?the?counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in?store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk?in medical clinics and HealthHUB locations that offer expanded clinical services.