Traders sold shares of CVS Health Corporation (NYSE:CVS) on strength during trading hours on Monday. $32.56 million flowed into the stock on the tick-up and $73.29 million flowed out of the stock on the tick-down, for a money net flow of $40.73 million out of the stock. Of all stocks tracked, CVS Health Corporation had the 17th highest net out-flow for the day. CVS Health Corporation traded up $0.07 for the day and closed at $77.10
CVS has been the subject of several recent research reports. Evercore ISI reaffirmed an “outperform” rating and set a $88.00 target price (up from $87.00) on shares of CVS Health Corporation in a report on Wednesday, May 3rd. Vetr raised CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 target price for the company in a report on Wednesday, May 17th. ValuEngine lowered CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Tigress Financial initiated coverage on CVS Health Corporation in a report on Thursday, April 27th. They set a “buy” rating for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. CVS Health Corporation presently has a consensus rating of “Buy” and a consensus price target of $93.67.
The firm has a market cap of $78.55 billion, a PE ratio of 16.08 and a beta of 0.91. The company has a 50-day moving average of $78.67 and a 200-day moving average of $79.23.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.07. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The firm had revenue of $44.51 billion for the quarter, compared to analyst estimates of $44.20 billion. During the same period in the previous year, the business earned $1.18 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that CVS Health Corporation will post $5.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $2.00 annualized dividend and a dividend yield of 2.59%. CVS Health Corporation’s dividend payout ratio is presently 41.67%.
In other news, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the transaction, the executive vice president now owns 59,300 shares in the company, valued at $4,564,914. The disclosure for this sale can be found here. Insiders have sold a total of 271,175 shares of company stock worth $21,632,597 over the last 90 days. 0.61% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mercer Capital Advisers Inc. acquired a new position in CVS Health Corporation during the first quarter worth $118,000. SRS Capital Advisors Inc. acquired a new position in CVS Health Corporation during the fourth quarter worth $120,000. TB Alternative Assets Ltd. acquired a new position in CVS Health Corporation during the second quarter worth $121,000. Gemmer Asset Management LLC raised its position in CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares during the period. Finally, D Orazio & Associates Inc. raised its position in CVS Health Corporation by 34.5% in the fourth quarter. D Orazio & Associates Inc. now owns 1,560 shares of the pharmacy operator’s stock worth $123,000 after buying an additional 400 shares during the period. Institutional investors own 82.09% of the company’s stock.
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CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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