Investors Sell Shares of CVS Health Corporation (CVS) on Strength (CVS)
Investors sold shares of CVS Health Corporation (NYSE:CVS) on strength during trading hours on Thursday. $55.19 million flowed into the stock on the tick-up and $99.17 million flowed out of the stock on the tick-down, for a money net flow of $43.98 million out of the stock. Of all companies tracked, CVS Health Corporation had the 0th highest net out-flow for the day. CVS Health Corporation traded up $0.53 for the day and closed at $80.41
A number of brokerages have issued reports on CVS. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. cut their price target on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, August 17th. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a report on Friday, June 9th. Loop Capital began coverage on shares of CVS Health Corporation in a report on Thursday, August 24th. They issued a “hold” rating and a $83.00 price target on the stock. Finally, Wolfe Research lowered shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $89.00 to $82.00 in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $90.83.
The stock’s 50-day moving average price is $78.33 and its 200 day moving average price is $78.92. The firm has a market capitalization of $81.04 billion, a P/E ratio of 15.88 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last issued its earnings results 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. 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 for the quarter, compared to analysts’ expectations of $45.36 billion. During the same period in the prior year, the business earned $1.32 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts anticipate that CVS Health Corporation will post $5.88 earnings per share for the current year.
In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Helena Foulkes sold 20,332 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the transaction, the executive vice president now owns 59,300 shares in the company, valued at $4,564,914. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,675 shares of company stock worth $21,831,647. 0.61% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. Pathstone Family Office LLC boosted its holdings in shares of CVS Health Corporation by 341.0% in the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after buying an additional 982 shares in the last quarter. Fieldpoint Private Securities LLC boosted its holdings in shares of CVS Health Corporation by 333.3% in the 2nd 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 stake in shares of CVS Health Corporation in the 1st quarter valued at about $118,000. TB Alternative Assets Ltd. bought a new stake in shares of CVS Health Corporation in the 2nd quarter valued at about $121,000. Finally, Gemmer Asset Management LLC boosted its holdings in shares of CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. Institutional investors own 81.55% of the company’s stock.
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CVS Health Corporation Company Profile
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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