Tyche Wealth Partners LLC Invests $202,000 in CVS Health Co. (NYSE:CVS)

Tyche Wealth Partners LLC acquired a new position in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,552 shares of the pharmacy operator’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bryn Mawr Capital Management LLC increased its stake in shares of CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares in the last quarter. Value Partners Investments Inc. grew its stake in CVS Health by 26.5% during the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock valued at $69,261,000 after acquiring an additional 207,702 shares in the last quarter. Sonora Investment Management Group LLC grew its stake in CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock valued at $3,525,000 after acquiring an additional 774 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in CVS Health by 2.3% during the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after acquiring an additional 233 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its stake in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after acquiring an additional 491 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research note on Wednesday, April 10th. Piper Sandler raised their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Barclays began coverage on shares of CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective for the company. Finally, StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Price Performance

CVS Health stock opened at $69.39 on Friday. The firm has a 50-day moving average price of $75.42 and a 200-day moving average price of $73.70. The firm has a market capitalization of $87.46 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.99 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.83%. CVS Health’s payout ratio is 41.18%.

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.