Tyche Wealth Partners LLC Takes $310,000 Position in CVS Health Corporation (NYSE:CVS)

Tyche Wealth Partners LLC acquired a new position in CVS Health Corporation (NYSE:CVS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,569 shares of the pharmacy operator’s stock, valued at approximately $310,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dodge & Cox boosted its holdings in shares of CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Capital World Investors boosted its stake in CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CVS Health by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock valued at $1,211,582,000 after purchasing an additional 689,867 shares during the period. Capital International Investors boosted its stake in CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock valued at $1,196,989,000 after buying an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings in CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after acquiring an additional 6,475,271 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS opened at $66.44 on Thursday. The business’s 50-day moving average is $64.81 and its 200-day moving average is $60.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The company has a market capitalization of $84.05 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 0.97 and a beta of 0.56. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. Equities research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director now directly owns 12,007 shares of the company’s stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVS shares. Barclays set a $79.00 price target on shares of CVS Health and gave the company an “overweight” rating in a report on Monday, June 2nd. Mizuho increased their target price on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Royal Bank Of Canada increased their price objective on CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

CVS Health Profile

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.