Investors bought shares of CVS Health Corporation (NYSE:CVS) on weakness during trading on Monday following insider selling activity. $61.71 million flowed into the stock on the tick-up and $39.00 million flowed out of the stock on the tick-down, for a money net flow of $22.71 million into the stock. Of all companies tracked, CVS Health Corporation had the 30th highest net in-flow for the day. CVS Health Corporation traded down ($0.02) for the day and closed at $77.64Specifically, CFO David M. Denton sold 230,510 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Helena Foulkes sold 20,333 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the sale, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at approximately $4,744,080. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,675 shares of company stock valued at $21,831,647. 0.61% of the stock is currently owned by insiders.
CVS has been the subject of a number of recent analyst reports. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price target for the company in a report on Wednesday, May 24th. Tigress Financial initiated coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They set a “buy” rating for the company. Leerink Swann set a $90.00 price target on shares of CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, Needham & Company LLC initiated coverage on shares of CVS Health Corporation in a report on Tuesday, June 27th. They set a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $91.24.
The firm has a market capitalization of $78.93 billion, a PE ratio of 15.47 and a beta of 0.91. The stock’s 50-day moving average is $78.68 and its 200 day moving average is $78.94.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.32 earnings per share. On average, equities analysts predict that CVS Health Corporation will post $5.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
Several hedge funds and other institutional investors have recently bought and sold shares of CVS. Toronto Dominion Bank increased its position in CVS Health Corporation by 18.6% in the second quarter. Toronto Dominion Bank now owns 425,418 shares of the pharmacy operator’s stock valued at $34,233,000 after buying an additional 66,762 shares during the period. Oak Associates Ltd. OH increased its position in CVS Health Corporation by 2.2% in the second quarter. Oak Associates Ltd. OH now owns 204,771 shares of the pharmacy operator’s stock valued at $16,476,000 after buying an additional 4,391 shares during the period. Rikoon Group LLC increased its position in CVS Health Corporation by 53.2% in the second quarter. Rikoon Group LLC now owns 19,590 shares of the pharmacy operator’s stock valued at $1,576,000 after buying an additional 6,799 shares during the period. Cetera Investment Advisers increased its position in CVS Health Corporation by 3.7% in the second quarter. Cetera Investment Advisers now owns 8,615 shares of the pharmacy operator’s stock valued at $692,000 after buying an additional 309 shares during the period. Finally, Advisory Services Network LLC increased its position in CVS Health Corporation by 44.3% in the second quarter. Advisory Services Network LLC now owns 15,949 shares of the pharmacy operator’s stock valued at $1,283,000 after buying an additional 4,893 shares during the period. 82.31% of the stock is currently owned by hedge funds and other institutional investors.
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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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