Wynn Capital LLC Makes New $1.36 Million Investment in CVS Health Co. (NYSE:CVS)

Wynn Capital LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,202 shares of the pharmacy operator’s stock, valued at approximately $1,358,000. CVS Health comprises 1.1% of Wynn Capital LLC’s portfolio, making the stock its 29th largest holding.

Several other hedge funds have also recently bought and sold shares of CVS. Atticus Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 219 shares during the period. Cornerstone Planning Group LLC raised its position in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. ZRC Wealth Management LLC raised its position in CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 400 shares in the last quarter. Coston McIsaac & Partners raised its position in CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after purchasing an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of CVS Health during the fourth quarter worth $50,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVS. SVB Leerink began coverage on shares of CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective on the stock. Piper Sandler upped their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Royal Bank of Canada cut their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Barclays started 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 target on the stock. Finally, Wells Fargo & Company cut their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.44.

Insider Buying and Selling

In other 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 sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

CVS Health Stock Performance

Shares of CVS Health stock traded down $0.74 on Wednesday, reaching $67.76. 8,650,023 shares of the company traded hands, compared to its average volume of 10,731,002. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The company has a 50 day moving average of $74.97 and a 200 day moving average of $73.76. The firm has a market capitalization of $85.41 billion, a PE ratio of 10.52, a PEG ratio of 0.92 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 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 during the quarter, compared to the consensus estimate of $90.58 billion. During the same period last year, the firm earned $1.99 EPS. CVS Health’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is presently 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.