Continuum Advisory LLC Has $2.52 Million Holdings in CVS Health Co. (NYSE:CVS)

Continuum Advisory LLC grew its stake in CVS Health Co. (NYSE:CVS) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,881 shares of the pharmacy operator’s stock after purchasing an additional 4,422 shares during the quarter. Continuum Advisory LLC’s holdings in CVS Health were worth $2,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in CVS Health during the fourth quarter worth about $1,092,040,000. Capital International Investors increased its stake in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after acquiring an additional 10,837,801 shares during the last quarter. FMR LLC raised its position in CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of CVS Health by 306.6% during the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after buying an additional 2,297,100 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of CVS Health during the 4th quarter worth $111,209,000. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Down 0.0 %

CVS stock traded down $0.01 on Wednesday, reaching $59.99. 10,615,677 shares of the company traded hands, compared to its average volume of 12,165,203. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The firm has a fifty day simple moving average of $62.35 and a 200-day simple moving average of $71.11. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a market cap of $75.31 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVS. Piper Sandler increased their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Mizuho dropped their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barclays decreased their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and dropped their price objective for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Finally, Argus decreased their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $75.05.

About CVS Health

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.