Traders Buy CVS Health Corporation (CVS) on Weakness

Traders bought shares of CVS Health Corporation (NYSE:CVS) on weakness during trading on Wednesday. $124.95 million flowed into the stock on the tick-up and $78.13 million flowed out of the stock on the tick-down, for a money net flow of $46.82 million into the stock. Of all companies tracked, CVS Health Corporation had the 19th highest net in-flow for the day. CVS Health Corporation traded down ($0.48) for the day and closed at $75.53

CVS has been the subject of a number of research reports. Royal Bank Of Canada initiated coverage on shares of CVS Health Corporation in a research note on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price for the company. Robert W. Baird reiterated a “hold” rating and set a $77.00 target price on shares of CVS Health Corporation in a research note on Friday. Loop Capital initiated coverage on shares of CVS Health Corporation in a research note on Thursday, August 24th. They set a “hold” rating and a $83.00 target price for the company. Jefferies Group LLC set a $86.00 target price on shares of CVS Health Corporation and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, Wolfe Research lowered shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $89.00 to $82.00 in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $87.98.

The firm has a 50-day moving average of $78.64 and a 200 day moving average of $78.69. The stock has a market capitalization of $75.70 billion, a P/E ratio of 14.83 and a beta of 0.92.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. During the same quarter in the previous year, the company earned $1.32 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.73%. CVS Health Corporation’s payout ratio is 39.92%.

In other CVS Health Corporation news, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health Corporation stock in a transaction 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 transaction, the executive vice president now owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larry J. Merlo sold 241,150 shares of CVS Health Corporation stock in a transaction 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 transaction, the insider now directly owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. Insiders sold 716,625 shares of company stock valued at $58,318,431 in the last ninety days. 0.61% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVS. Horan Capital Advisors LLC. grew its position in shares of CVS Health Corporation by 3.2% in the second quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock valued at $2,584,000 after purchasing an additional 1,000 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of CVS Health Corporation by 3.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after purchasing an additional 5,478 shares during the period. Community Bank N.A. grew its position in shares of CVS Health Corporation by 7.3% in the second quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock valued at $1,608,000 after purchasing an additional 1,362 shares during the period. Fiduciary Trust Co. grew its position in shares of CVS Health Corporation by 1.2% in the first quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after purchasing an additional 4,265 shares during the period. Finally, British Columbia Investment Management Corp grew its position in shares of CVS Health Corporation by 3.7% in the first quarter. British Columbia Investment Management Corp now owns 561,299 shares of the pharmacy operator’s stock valued at $44,062,000 after purchasing an additional 19,794 shares during the period. 81.59% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Traders Buy CVS Health Corporation (CVS) on Weakness” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2017/10/27/traders-buy-cvs-health-corporation-cvs-on-weakness.html.

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.

Receive News & Ratings for CVS Health Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply