Madison Asset Management LLC Has $10.96 Million Position in CVS Health Co. (NYSE:CVS)

Madison Asset Management LLC boosted its holdings in shares of CVS Health Co. (NYSE:CVSFree Report) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,850 shares of the pharmacy operator’s stock after purchasing an additional 21,000 shares during the period. Madison Asset Management LLC’s holdings in CVS Health were worth $10,964,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CVS. Atticus Wealth Management LLC raised its stake in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas boosted its position in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares in the last quarter. ZRC Wealth Management LLC grew its stake in CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares during the last quarter. Finally, Coston McIsaac & Partners increased its holdings in shares of CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 6.4 %

NYSE:CVS traded up $3.56 on Friday, reaching $59.60. The company’s stock had a trading volume of 22,366,748 shares, compared to its average volume of 13,665,998. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The business’s 50-day moving average price is $64.87 and its two-hundred day moving average price is $71.50. The firm has a market cap of $74.82 billion, a PE ratio of 10.47, a PEG ratio of 0.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

CVS Health (NYSE:CVSGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) 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 business had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.46%. CVS Health’s dividend payout ratio is currently 46.75%.

Insider Buying and Selling

In other news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVS shares. Truist Financial reissued a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Robert W. Baird began coverage on shares of CVS Health in a research note on Thursday. They set a “neutral” rating and a $61.00 price target on the stock. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Argus dropped their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Barclays decreased their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $75.05.

Get Our Latest Report on CVS Health

About CVS Health

(Free Report)

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.

See Also

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

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