Investors Sell Shares of CVS Health Corporation (NYSE:CVS) on Strength (NYSE:CVS)

Investors sold shares of CVS Health Corporation (NYSE:CVS) on strength during trading on Monday. $32.56 million flowed into the stock on the tick-up and $73.29 million flowed out of the stock on the tick-down, for a money net flow of $40.73 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 $0.07 for the day and closed at $77.10

CVS has been the subject of several recent research reports. Evercore ISI restated an “outperform” rating and set a $88.00 target price (up from $87.00) on shares of CVS Health Corporation in a report on Wednesday, May 3rd. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 target price for the company in a report on Wednesday, May 17th. ValuEngine downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Tigress Financial started coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They set a “buy” rating for the company. Finally, Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. CVS Health Corporation currently has an average rating of “Buy” and a consensus target price of $91.24.

The firm has a market capitalization of $78.95 billion, a PE ratio of 15.47 and a beta of 0.91. The firm’s 50 day moving average is $78.68 and its 200-day moving average is $78.94.

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 analysts’ consensus estimates of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts forecast that CVS Health Corporation will post $5.88 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were issued a $0.50 dividend. The ex-dividend date was Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a yield of 2.58%. CVS Health Corporation’s payout ratio is presently 39.92%.

In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the transaction, the chief financial officer now owns 176,983 shares in the company, valued at $14,158,640. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Helena Foulkes sold 20,332 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $76.98, for a total value of $1,565,157.36. Following the completion of the transaction, the executive vice president now owns 59,300 shares in the company, valued at approximately $4,564,914. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 273,675 shares of company stock worth $21,831,647. 0.61% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of CVS. Raymond James Trust N.A. increased its stake in shares of CVS Health Corporation by 10.2% in the first quarter. Raymond James Trust N.A. now owns 124,748 shares of the pharmacy operator’s stock valued at $9,793,000 after buying an additional 11,558 shares during the period. S&CO Inc. increased its stake in shares of CVS Health Corporation by 2.1% in the first quarter. S&CO Inc. now owns 7,435 shares of the pharmacy operator’s stock valued at $584,000 after buying an additional 150 shares during the period. Creative Planning increased its stake in shares of CVS Health Corporation by 1.5% in the first quarter. Creative Planning now owns 90,927 shares of the pharmacy operator’s stock valued at $7,138,000 after buying an additional 1,321 shares during the period. Douglass Winthrop Advisors LLC increased its stake in shares of CVS Health Corporation by 16.8% in the first quarter. Douglass Winthrop Advisors LLC now owns 140,209 shares of the pharmacy operator’s stock valued at $11,006,000 after buying an additional 20,155 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its stake in shares of CVS Health Corporation by 29.3% in the first quarter. Stock Yards Bank & Trust Co. now owns 21,309 shares of the pharmacy operator’s stock worth $1,672,000 after buying an additional 4,830 shares during the last quarter. 82.31% of the stock is owned by hedge funds and other institutional investors.

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About CVS Health Corporation

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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