Syon Capital LLC Buys 3,262 Shares of CVS Health Co. (NYSE:CVS)

Syon Capital LLC lifted its stake in CVS Health Co. (NYSE:CVS) by 43.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,720 shares of the pharmacy operator’s stock after purchasing an additional 3,262 shares during the period. Syon Capital LLC’s holdings in CVS Health were worth $846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC boosted its holdings in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of CVS Health by 111.5% in the 3rd 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 boosted its holdings in shares of CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares in the last quarter. Coston McIsaac & Partners raised its position in shares of CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of CVS Health in the 4th quarter valued at approximately $50,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

CVS traded down $0.15 on Friday, hitting $67.18. 6,393,795 shares of the company’s stock were exchanged, compared to its average volume of 10,655,132. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $74.61 and a 200-day moving average price of $73.67. The stock has a market cap of $84.68 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 0.90 and a beta of 0.52.

CVS Health (NYSE:CVS) last announced 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. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter in the previous year, the company posted $1.99 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Announces Dividend

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 $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s dividend payout ratio (DPR) is currently 41.18%.

Analyst Upgrades and Downgrades

CVS has been the subject of several research analyst reports. Barclays initiated coverage on shares of CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Royal Bank of Canada reduced their price target 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. Cantor Fitzgerald reissued an “overweight” rating and set a $87.00 price target on shares of CVS Health in a research report on Wednesday, April 10th. Piper Sandler raised their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Finally, SVB Leerink started coverage on shares of CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Activity at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by insiders.

CVS Health Company 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.