Investors Buy CVS Health (CVS) on Weakness

Investors purchased shares of CVS Health Corp (NYSE:CVS) on weakness during trading on Thursday. $157.02 million flowed into the stock on the tick-up and $92.73 million flowed out of the stock on the tick-down, for a money net flow of $64.29 million into the stock. Of all equities tracked, CVS Health had the 8th highest net in-flow for the day. CVS Health traded down ($0.82) for the day and closed at $70.80

A number of analysts have commented on the stock. Raymond James Financial restated a “buy” rating on shares of CVS Health in a research note on Monday, December 4th. Deutsche Bank restated a “hold” rating on shares of CVS Health in a research note on Tuesday, December 5th. Royal Bank of Canada set a $95.00 price target on shares of CVS Health and gave the company a “buy” rating in a research note on Monday, December 4th. Robert W. Baird set a $77.00 price target on shares of CVS Health and gave the company a “hold” rating in a research note on Monday, December 4th. Finally, Jefferies Group set a $76.00 target price on shares of CVS Health and gave the stock a “hold” rating in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.35.

The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. The company has a market cap of $71,719.84, a P/E ratio of 12.40, a PEG ratio of 1.33 and a beta of 0.89.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. sell-side analysts anticipate that CVS Health Corp will post 5.9 earnings per share for the current year.

In related news, COO Jonathan C. Roberts sold 85,743 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total value of $7,128,673.02. Following the transaction, the chief operating officer now directly owns 119,555 shares of the company’s stock, valued at approximately $9,939,802.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas M. Moriarty sold 20,547 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the completion of the transaction, the executive vice president now directly owns 43,178 shares in the company, valued at $3,504,758.26. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. Eagle Asset Management Inc. lifted its holdings in CVS Health by 0.8% during the first quarter. Eagle Asset Management Inc. now owns 24,031 shares of the pharmacy operator’s stock valued at $1,886,000 after purchasing an additional 179 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in CVS Health by 53.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 60,073 shares of the pharmacy operator’s stock valued at $4,716,000 after purchasing an additional 20,874 shares during the last quarter. Holderness Investments Co. lifted its holdings in CVS Health by 61.6% during the first quarter. Holderness Investments Co. now owns 7,041 shares of the pharmacy operator’s stock valued at $553,000 after purchasing an additional 2,684 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in CVS Health by 10.3% during the first quarter. State of Wisconsin Investment Board now owns 1,432,714 shares of the pharmacy operator’s stock valued at $112,468,000 after purchasing an additional 133,507 shares during the last quarter. Finally, United Bank lifted its holdings in CVS Health by 12.7% during the first quarter. United Bank now owns 15,907 shares of the pharmacy operator’s stock valued at $1,249,000 after purchasing an additional 1,790 shares during the last quarter. 82.24% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This report was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2017/12/16/investors-buy-cvs-health-cvs-on-weakness.html.

About CVS Health

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

Leave a Reply