Insider Selling: CVS Health Corp (CVS) EVP Sells 6,029 Shares of Stock
CVS Health Corp (NYSE:CVS) EVP Eva C. Boratto sold 6,029 shares of CVS Health Corp stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $79.60, for a total value of $479,908.40. Following the completion of the transaction, the executive vice president now owns 41,614 shares in the company, valued at approximately $3,312,474.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of CVS Health Corp (NYSE:CVS) traded down 0.08% during mid-day trading on Monday, hitting $78.82. The stock had a trading volume of 5,075,846 shares. CVS Health Corp has a 52-week low of $69.30 and a 52-week high of $106.67. The stock has a market cap of $83.63 billion, a P/E ratio of 16.06 and a beta of 0.85. The company’s 50 day moving average is $79.27 and its 200-day moving average is $82.31.
CVS Health Corp (NYSE:CVS) last announced its quarterly earnings results on Thursday, February 9th. The pharmacy operator reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. CVS Health Corp had a net margin of 3.00% and a return on equity of 17.55%. The firm earned $46 billion during the quarter, compared to the consensus estimate of $46.56 billion. During the same quarter last year, the firm earned $1.53 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that CVS Health Corp will post $5.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, April 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, April 19th. CVS Health Corp’s payout ratio is 40.65%.
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Several hedge funds and other institutional investors have recently made changes to their positions in CVS. Integrated Wealth Management increased its position in shares of CVS Health Corp by 3.8% in the third quarter. Integrated Wealth Management now owns 1,348 shares of the pharmacy operator’s stock worth $120,000 after buying an additional 49 shares during the last quarter. Gemmer Asset Management LLC increased its position in shares of CVS Health Corp by 7.6% in the third quarter. Gemmer Asset Management LLC now owns 1,409 shares of the pharmacy operator’s stock worth $125,000 after buying an additional 100 shares during the last quarter. SRS Capital Advisors Inc. acquired a new position in shares of CVS Health Corp during the fourth quarter worth approximately $120,000. D Orazio & Associates Inc. increased its position in shares of CVS Health Corp by 34.5% in the fourth quarter. D Orazio & Associates Inc. now owns 1,560 shares of the pharmacy operator’s stock worth $123,000 after buying an additional 400 shares during the last quarter. Finally, Klingman & Associates LLC increased its position in shares of CVS Health Corp by 27.5% in the third quarter. Klingman & Associates LLC now owns 1,625 shares of the pharmacy operator’s stock worth $145,000 after buying an additional 350 shares during the last quarter. 81.29% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the company. Vetr downgraded CVS Health Corp from a “strong-buy” rating to a “buy” rating and set a $86.51 price target on the stock. in a report on Thursday, December 8th. Credit Suisse Group AG restated a “buy” rating on shares of CVS Health Corp in a report on Monday, December 19th. Oppenheimer Holdings Inc. set a $88.00 price target on CVS Health Corp and gave the company a “buy” rating in a report on Sunday, December 18th. Guggenheim restated a “buy” rating and set a $90.00 price target on shares of CVS Health Corp in a report on Tuesday, December 13th. Finally, Evercore ISI reduced their price target on CVS Health Corp from $91.50 to $84.00 and set a “buy” rating on the stock in a report on Thursday, February 9th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $95.99.
CVS Health Corp Company Profile
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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