Traders Buy Shares of CVS Health (CVS) on Weakness on Insider Selling
Traders bought shares of CVS Health Corp (NYSE:CVS) on weakness during trading on Monday following insider selling activity. $123.07 million flowed into the stock on the tick-up and $79.65 million flowed out of the stock on the tick-down, for a money net flow of $43.42 million into the stock. Of all companies tracked, CVS Health had the 27th highest net in-flow for the day. CVS Health traded down ($0.78) for the day and closed at $78.55Specifically, EVP Troyen A. Brennan sold 14,229 shares of CVS Health stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $82.00, for a total value of $1,166,778.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa Bisaccia sold 21,534 shares of CVS Health stock in a transaction on Monday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,722,720.00. The disclosure for this sale can be found here. Insiders sold 57,638 shares of company stock worth $4,558,875 in the last 90 days. Company insiders own 0.53% of the company’s stock.
A number of equities research analysts have commented on CVS shares. Royal Bank of Canada set a $99.00 target price on CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Morgan Stanley set a $100.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Wednesday, November 7th. Bank of America lifted their price objective on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Leerink Swann lifted their price objective on CVS Health from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Thursday, November 8th. Finally, ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and a consensus price target of $90.04.
The company has a market cap of $80.82 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.06 and a beta of 0.98. The company has a quick ratio of 1.94, a current ratio of 2.44 and a debt-to-equity ratio of 1.66.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.55%. CVS Health’s payout ratio is 33.90%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Camarda Financial Advisors LLC acquired a new position in CVS Health during the 2nd quarter worth $102,000. Kiley Juergens Wealth Management LLC acquired a new position in CVS Health during the 2nd quarter worth $103,000. Squar Milner Financial Services LLC acquired a new position in CVS Health during the 2nd quarter worth $122,000. Canton Hathaway LLC acquired a new position in CVS Health during the 3rd quarter worth $126,000. Finally, MCF Advisors LLC grew its stake in CVS Health by 284.1% during the 3rd quarter. MCF Advisors LLC now owns 1,713 shares of the pharmacy operator’s stock worth $135,000 after purchasing an additional 1,267 shares in the last quarter. 83.03% of the stock is owned by hedge funds and other institutional investors.
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CVS Health Company Profile (NYSE:CVS)
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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