CVS Health Target of Unusually High Options Trading (NYSE:CVS)

CVS Health Co. (NYSE:CVS) saw unusually large options trading activity on Wednesday. Stock traders purchased 92,977 put options on the company. This is an increase of 121% compared to the average daily volume of 42,006 put options.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $99.00 to $59.00 in a report on Tuesday. Bank of America cut their target price on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Royal Bank of Canada reduced their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Finally, Mizuho lowered their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.67.

Insider Buying and Selling

In other news, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On CVS Health

Institutional investors have recently bought and sold shares of the business. Atticus Wealth Management LLC increased its holdings in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares in the last quarter. USA Financial Formulas grew its holdings in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares during the period. Cornerstone Planning Group LLC increased its holdings in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health in the fourth quarter valued at about $32,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $34,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 1.0 %

Shares of NYSE:CVS traded down $0.54 during trading on Wednesday, reaching $55.20. 8,298,834 shares of the company were exchanged, compared to its average volume of 11,829,027. The business’s fifty day simple moving average is $71.95 and its 200-day simple moving average is $73.09. The firm has a market capitalization of $69.30 billion, a PE ratio of 9.71, a P/E/G ratio of 0.88 and a beta of 0.56. CVS Health has a 12-month low of $53.70 and a 12-month high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 EPS. On average, research analysts anticipate that CVS Health will post 7.03 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.