Investors bought shares of CVS Health Corporation (NYSE:CVS) on weakness during trading hours on Tuesday. $71.94 million flowed into the stock on the tick-up and $54.05 million flowed out of the stock on the tick-down, for a money net flow of $17.89 million into the stock. Of all companies tracked, CVS Health Corporation had the 32nd highest net in-flow for the day. CVS Health Corporation traded down ($0.23) for the day and closed at $79.70
CVS has been the topic of several recent research reports. Evercore ISI reaffirmed an “outperform” rating and set a $88.00 target price (up previously from $87.00) on shares of CVS Health Corporation in a research note on Wednesday, May 3rd. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price objective on the stock in a report on Wednesday, May 17th. ValuEngine lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Tigress Financial started coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They set a “buy” rating on the stock. Finally, Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $91.24.
The company has a market cap of $78.95 billion, a price-to-earnings ratio of 15.47 and a beta of 0.91. The company’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 data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business 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 firm earned $1.32 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts predict that CVS Health Corporation will post $5.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.00 annualized dividend and a dividend yield of 2.58%. CVS Health Corporation’s dividend payout ratio is presently 39.92%.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $76.98, for a total value of $1,565,157.36. Following the completion of the transaction, the executive vice president now owns 59,300 shares of the company’s stock, valued at approximately $4,564,914. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total value of $199,050.00. Following the completion of the transaction, the director now directly owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The disclosure for this sale can be found here. Insiders have sold a total of 273,675 shares of company stock valued at $21,831,647 in the last three months. 0.61% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Naples Global Advisors LLC bought a new stake in CVS Health Corporation during the first quarter valued at $452,000. Regent Investment Management LLC raised its stake in CVS Health Corporation by 0.6% in the first quarter. Regent Investment Management LLC now owns 66,818 shares of the pharmacy operator’s stock valued at $5,245,000 after buying an additional 429 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in CVS Health Corporation by 17.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 92,139 shares of the pharmacy operator’s stock valued at $7,233,000 after buying an additional 14,012 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in CVS Health Corporation by 83.3% in the first quarter. Koshinski Asset Management Inc. now owns 21,694 shares of the pharmacy operator’s stock valued at $1,703,000 after buying an additional 9,858 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in CVS Health Corporation by 8.3% in the first quarter. CHICAGO TRUST Co NA now owns 31,634 shares of the pharmacy operator’s stock valued at $2,483,000 after buying an additional 2,413 shares in the last quarter. 82.31% of the stock is owned by hedge funds and other institutional investors.
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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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