Tyche Wealth Partners LLC Takes Position in CVS Health Co. (NYSE:CVS)

Tyche Wealth Partners LLC bought a new stake in CVS Health Co. (NYSE:CVS) in the fourth quarter, Holdings Channel.com reports. The firm bought 2,552 shares of the pharmacy operator’s stock, valued at approximately $202,000.

Other hedge funds have also modified their holdings of the company. Bryn Mawr Capital Management LLC raised its position 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 valued at $3,017,000 after buying an additional 18,385 shares during the last quarter. Value Partners Investments Inc. increased its position 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 worth $69,261,000 after purchasing an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC increased its position 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 worth $3,525,000 after purchasing an additional 774 shares during the last quarter. Checchi Capital Advisers LLC increased its position 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 worth $726,000 after purchasing an additional 233 shares during the last quarter. Finally, Personal CFO Solutions LLC increased its position 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 worth $1,351,000 after purchasing an additional 491 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 1.2 %

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

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

CVS Health Announces Dividend

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

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVS. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Royal Bank of Canada cut their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. HSBC began coverage on shares of CVS Health in a research note on Friday, December 22nd. They set a “buy” rating and a $94.00 target price for the company. Wells Fargo & Company lowered their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Finally, Barclays began coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.44.

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.