CVS Health Corp (CVS) is Nordea Investment Management AB’s 3rd Largest Position

Nordea Investment Management AB boosted its holdings in CVS Health Corp (NYSE:CVS) by 8.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,154,922 shares of the pharmacy operator’s stock after purchasing an additional 1,100,373 shares during the quarter. CVS Health makes up 2.9% of Nordea Investment Management AB’s portfolio, making the stock its 3rd biggest holding. Nordea Investment Management AB owned approximately 1.39% of CVS Health worth $1,138,905,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CVS. Gemmer Asset Management LLC grew its position in CVS Health by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after acquiring an additional 200 shares during the period. TB Alternative Assets Ltd. purchased a new stake in CVS Health during the second quarter valued at about $121,000. Captrust Financial Advisors purchased a new stake in CVS Health during the second quarter valued at about $155,000. SRS Capital Advisors Inc. grew its position in CVS Health by 48.2% during the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after acquiring an additional 734 shares during the period. Finally, Grace & White Inc. NY purchased a new stake in CVS Health during the second quarter valued at about $199,000. Hedge funds and other institutional investors own 82.24% of the company’s stock.

In related news, CFO David M. Denton sold 237,078 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.65, for a total value of $18,883,262.70. Following the completion of the transaction, the chief financial officer now owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan C. Roberts sold 85,743 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total value of $7,128,673.02. Following the completion of the transaction, the chief operating officer now directly owns 119,555 shares of the company’s stock, valued at approximately $9,939,802.70. The disclosure for this sale can be found here. Insiders sold 714,125 shares of company stock valued at $58,119,381 in the last three months. 0.61% of the stock is currently owned by company insiders.

A number of equities research analysts have issued reports on the company. Jefferies Group set a $76.00 price target on CVS Health and gave the company a “hold” rating in a research report on Monday. Needham & Company LLC boosted their price target on CVS Health from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Monday. Loop Capital set a $73.00 price target on CVS Health and gave the company a “hold” rating in a research report on Monday. Robert W. Baird set a $77.00 price target on CVS Health and gave the company a “hold” rating in a research report on Monday. Finally, Citigroup lowered their price target on CVS Health from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $86.35.

Shares of CVS Health Corp (CVS) traded down $0.68 during midday trading on Wednesday, hitting $71.01. The stock had a trading volume of 15,423,900 shares, compared to its average volume of 6,880,704. CVS Health Corp has a 52 week low of $66.45 and a 52 week high of $84.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. The stock has a market capitalization of $72,621.40, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 1.23 and a beta of 0.89.

CVS Health (NYSE:CVS) last issued its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. sell-side analysts expect that CVS Health Corp will post 5.9 earnings per share for the current fiscal year.

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About CVS Health

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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