Investors Buy CVS Health (CVS) on Weakness

Investors bought shares of CVS Health Corp (NYSE:CVS) on weakness during trading hours on Thursday. $117.15 million flowed into the stock on the tick-up and $78.96 million flowed out of the stock on the tick-down, for a money net flow of $38.19 million into the stock. Of all equities tracked, CVS Health had the 19th highest net in-flow for the day. CVS Health traded down ($0.43) for the day and closed at $75.09

Several equities analysts have recently commented on the company. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 target price on shares of CVS Health in a research note on Wednesday, August 8th. Leerink Swann set a $80.00 target price on CVS Health and gave the company an “outperform” rating in a research note on Thursday, August 9th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Monday, September 10th. Argus increased their target price on CVS Health to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 13th. Finally, Wolfe Research assumed coverage on CVS Health in a research note on Thursday, October 25th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $90.04.

The company has a market capitalization of $76.94 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.44 and a quick ratio of 1.94.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm had revenue of $47.27 billion for the quarter, compared to analysts’ expectations of $47.22 billion. During the same period last year, the business posted $1.50 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Corp will post 7.02 EPS for the current fiscal year.

The company also recently disclosed 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. This represents a $2.00 annualized dividend and a yield of 2.66%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.

In related news, EVP Eva C. Boratto sold 13,311 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the transaction, the executive vice president now directly owns 55,162 shares in the company, valued at $4,256,299.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the transaction, the executive vice president now owns 12,135 shares in the company, valued at $910,125. The disclosure for this sale can be found here. Insiders have sold 57,638 shares of company stock worth $4,558,875 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CVS. Hayek Kallen Investment Management lifted its stake in CVS Health by 5.0% in the third quarter. Hayek Kallen Investment Management now owns 13,567 shares of the pharmacy operator’s stock valued at $844,000 after buying an additional 641 shares during the last quarter. Trust Co. of Toledo NA OH lifted its stake in CVS Health by 3.5% in the third quarter. Trust Co. of Toledo NA OH now owns 19,653 shares of the pharmacy operator’s stock valued at $1,548,000 after buying an additional 661 shares during the last quarter. Intersect Capital LLC lifted its stake in CVS Health by 6.1% in the third quarter. Intersect Capital LLC now owns 11,622 shares of the pharmacy operator’s stock valued at $915,000 after buying an additional 665 shares during the last quarter. Assetmark Inc. lifted its stake in CVS Health by 14.3% in the third quarter. Assetmark Inc. now owns 5,319 shares of the pharmacy operator’s stock valued at $419,000 after buying an additional 665 shares during the last quarter. Finally, Kiley Juergens Wealth Management LLC lifted its stake in CVS Health by 41.5% in the third quarter. Kiley Juergens Wealth Management LLC now owns 2,270 shares of the pharmacy operator’s stock valued at $178,000 after buying an additional 666 shares during the last quarter. Hedge funds and other institutional investors own 83.03% of the company’s stock.

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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.

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