Norges Bank Makes New Investment in CVS Health Corporation $CVS

Norges Bank bought a new stake in CVS Health Corporation (NYSE:CVS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 19,696,987 shares of the pharmacy operator’s stock, valued at approximately $1,358,698,000. Norges Bank owned 1.55% of CVS Health at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Avion Wealth boosted its holdings in CVS Health by 99.0% in the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after acquiring an additional 189 shares during the period. Harbor Asset Planning Inc. acquired a new stake in shares of CVS Health during the second quarter valued at about $30,000. Bell Investment Advisors Inc lifted its stake in shares of CVS Health by 119.8% in 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 in the last quarter. Roxbury Financial LLC boosted its holdings in CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. Finally, ORG Partners LLC grew its stake in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 377 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.8%

Shares of CVS Health stock opened at $79.88 on Friday. The stock has a market capitalization of $101.40 billion, a price-to-earnings ratio of 210.22, a PEG 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. 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 business’s 50 day simple moving average is $78.53 and its 200-day simple moving average is $70.59.

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

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.3%. The ex-dividend date was Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 700.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of CVS Health in a research note on Monday. Evercore ISI increased their price objective on shares of CVS Health from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Piper Sandler boosted their target price on shares of CVS Health from $81.00 to $99.00 in a research report on Friday, October 31st. Royal Bank Of Canada lifted their price target on CVS Health from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average 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.