Investors Buy CVS Health Corporation (CVS) on Weakness

Traders purchased shares of CVS Health Corporation (NYSE:CVS) on weakness during trading on Monday. $232.89 million flowed into the stock on the tick-up and $204.84 million flowed out of the stock on the tick-down, for a money net flow of $28.05 million into the stock. Of all companies tracked, CVS Health Corporation had the 28th highest net in-flow for the day. CVS Health Corporation traded down ($2.62) for the day and closed at $74.30

A number of research analysts have commented on CVS shares. Cowen and Company restated an “outperform” rating and issued a $86.00 target price on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Leerink Swann set a $90.00 target price on CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Needham & Company LLC started coverage on CVS Health Corporation in a research note on Tuesday, June 27th. They issued a “hold” rating on the stock. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. CVS Health Corporation currently has an average rating of “Buy” and a consensus price target of $89.93.

The company’s 50-day moving average is $79.46 and its 200-day moving average is $78.98. The stock has a market capitalization of $75.95 billion, a PE ratio of 14.88 and a beta of 0.92.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion during 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 for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $1.32 earnings per share. Equities analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be given a $0.50 dividend. The ex-dividend date is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.68%. CVS Health Corporation’s payout ratio is 39.92%.

In other news, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.61, for a total value of $7,186,155.87. Following the completion of the sale, the executive vice president now directly owns 70,102 shares in the company, valued at $5,580,820.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Larry J. Merlo sold 241,150 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the completion of the sale, the insider now owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 716,625 shares of company stock valued at $58,318,431. 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 CVS. Fieldpoint Private Securities LLC raised its position in shares of CVS Health Corporation by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 1,000 shares in the last quarter. Mercer Capital Advisers Inc. bought a new position in CVS Health Corporation in the first quarter valued at approximately $118,000. MPS Loria Financial Planners LLC bought a new position in CVS Health Corporation in the second quarter valued at approximately $119,000. Gemmer Asset Management LLC increased its stake 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 valued at $121,000 after acquiring an additional 200 shares during the last quarter. Finally, TB Alternative Assets Ltd. bought a new position in CVS Health Corporation in the second quarter valued at approximately $121,000. Institutional investors own 81.51% of the company’s stock.

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About CVS Health Corporation

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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