Investors Buy CVS Health (CVS) on Weakness

Share on StockTwits

Traders bought shares of CVS Health Corp (NYSE:CVS) on weakness during trading hours on Friday. $645.74 million flowed into the stock on the tick-up and $206.74 million flowed out of the stock on the tick-down, for a money net flow of $439.00 million into the stock. Of all stocks tracked, CVS Health had the 4th highest net in-flow for the day. CVS Health traded down ($0.28) for the day and closed at $55.60

Several equities research analysts have issued reports on the company. Leerink Swann assumed coverage on CVS Health in a report on Tuesday, December 11th. They issued an “outperform” rating for the company. Goldman Sachs Group restated a “neutral” rating and issued a $87.00 price target on shares of CVS Health in a report on Thursday, November 29th. Morgan Stanley set a $92.00 price target on CVS Health and gave the stock a “buy” rating in a report on Friday, February 22nd. Wells Fargo & Co increased their price target on CVS Health from $98.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, November 27th. Finally, Evercore ISI assumed coverage on CVS Health in a report on Wednesday, November 28th. They issued an “outperform” rating and a $89.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $84.18.

The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $70.89 billion, a PE ratio of 7.85, a PEG ratio of 1.06 and a beta of 0.95.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.07. The business had revenue of $54.42 billion during the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. CVS Health’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.92 earnings per share. Equities analysts expect that CVS Health Corp will post 6.8 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.60%. CVS Health’s payout ratio is presently 28.25%.

In other CVS Health news, SVP James David Clark sold 1,664 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.14, for a total value of $96,744.96. Following the completion of the transaction, the senior vice president now directly owns 8,557 shares in the company, valued at $497,503.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Larry J. Merlo sold 166,368 shares of the firm’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $69.04, for a total value of $11,486,046.72. Following the completion of the transaction, the insider now owns 496,577 shares of the company’s stock, valued at $34,283,676.08. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 23,600 shares of company stock valued at $1,270,896 and have sold 412,039 shares valued at $27,326,012. 0.53% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Bell Rock Capital LLC grew its stake in CVS Health by 764.0% in the fourth quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 382 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $30,000. Acima Private Wealth LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $33,000. Murphy Pohlad Asset Management LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $39,000. Finally, Cornerstone Advisors Inc. lifted its position in shares of CVS Health by 71.6% in the third quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock valued at $40,000 after buying an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 84.55% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Week Herald and is the sole property of of Week Herald. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://weekherald.com/2019/03/17/investors-buy-cvs-health-cvs-on-weakness-2.html.

About CVS Health (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.

Further Reading: Do back-end load funds outperform no-load funds?

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.