Traders Sell CVS Health Corporation (CVS) on Strength (CVS)
Traders sold shares of CVS Health Corporation (NYSE:CVS) on strength during trading hours on Tuesday. $217.78 million flowed into the stock on the tick-up and $320.65 million flowed out of the stock on the tick-down, for a money net flow of $102.87 million out of the stock. Of all stocks tracked, CVS Health Corporation had the highest net out-flow for the day. CVS Health Corporation traded up $4.57 for the day and closed at $98.06
CVS has been the topic of a number of research analyst reports. Morgan Stanley downgraded CVS Health Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $111.00 to $104.00 in a research report on Monday, June 20th. Credit Suisse Group AG restated a “buy” rating and issued a $115.00 price objective on shares of CVS Health Corporation in a research report on Sunday, June 5th. Jefferies Group restated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 4th. Deutsche Bank AG upped their price objective on CVS Health Corporation from $99.00 to $105.00 and gave the company a “hold” rating in a research report on Wednesday, June 22nd. Finally, Vetr upgraded CVS Health Corporation from a “hold” rating to a “buy” rating and set a $113.29 price objective on the stock in a research report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. CVS Health Corporation has a consensus rating of “Buy” and a consensus price target of $112.98.
The firm has a market capitalization of $105.32 billion and a PE ratio of 21.31. The company’s 50-day moving average price is $95.25 and its 200 day moving average price is $98.29.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.02. The firm had revenue of $43.70 billion for the quarter, compared to analyst estimates of $44.28 billion. During the same period in the previous year, the business posted $1.19 EPS. CVS Health Corporation’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, analysts forecast that CVS Health Corporation will post $5.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Thursday, July 21st were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Tuesday, July 19th. This represents a $1.70 dividend on an annualized basis and a yield of 1.73%.
In related news, EVP Troyen A. Brennan sold 7,517 shares of CVS Health Corporation stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $105.00, for a total transaction of $789,285.00. Following the completion of the sale, the executive vice president now owns 69,601 shares of the company’s stock, valued at $7,308,105. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Larry J. Merlo sold 38,247 shares of CVS Health Corporation stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $105.00, for a total value of $4,015,935.00. Following the sale, the chief executive officer now directly owns 280,381 shares of the company’s stock, valued at approximately $29,440,005. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in CVS. Brown Advisory Securities LLC boosted its stake in CVS Health Corporation by 14.8% in the fourth quarter. Brown Advisory Securities LLC now owns 10,306 shares of the pharmacy operator’s stock worth $1,006,000 after buying an additional 1,331 shares during the last quarter. Sawtooth Asset Management Inc. boosted its stake in CVS Health Corporation by 96.0% in the fourth quarter. Sawtooth Asset Management Inc. now owns 10,624 shares of the pharmacy operator’s stock worth $1,039,000 after buying an additional 5,203 shares during the last quarter. WMS Partners LLC boosted its stake in CVS Health Corporation by 1.4% in the fourth quarter. WMS Partners LLC now owns 11,098 shares of the pharmacy operator’s stock worth $1,085,000 after buying an additional 158 shares during the last quarter. Usca Ria LLC boosted its stake in CVS Health Corporation by 14.9% in the fourth quarter. Usca Ria LLC now owns 11,137 shares of the pharmacy operator’s stock worth $1,089,000 after buying an additional 1,442 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its stake in CVS Health Corporation by 5.3% in the fourth quarter. Tributary Capital Management LLC now owns 12,000 shares of the pharmacy operator’s stock worth $1,173,000 after buying an additional 600 shares during the last quarter.
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.
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