CVS Health Corporation (CVS) Insider Larry J. Merlo Sells 241,150 Shares
CVS Health Corporation (NYSE:CVS) insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the completion of the transaction, the insider now directly owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
CVS Health Corporation (CVS) traded up 0.64% during trading on Friday, reaching $83.17. 7,483,230 shares of the company were exchanged. The stock has a market capitalization of $84.55 billion, a price-to-earnings ratio of 16.57 and a beta of 0.92. CVS Health Corporation has a one year low of $69.30 and a one year high of $90.85. The firm’s 50 day moving average price is $78.92 and its 200-day moving average price is $78.97.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. The company had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. On average, equities research analysts predict that CVS Health Corporation will post $5.88 earnings per share for the current year.
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CVS has been the subject of a number of analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $82.00 target price on shares of CVS Health Corporation in a research report on Friday, June 9th. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price target for the company in a research note on Wednesday, May 24th. Cowen and Company reiterated an “outperform” rating and issued a $86.00 price target on shares of CVS Health Corporation in a research note on Tuesday, June 13th. ValuEngine cut shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Leerink Swann set a $90.00 price target on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $90.35.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intl Fcstone Inc. lifted its holdings in CVS Health Corporation by 283.0% during the second quarter. Intl Fcstone Inc. now owns 40,559 shares of the pharmacy operator’s stock valued at $3,263,000 after purchasing an additional 29,968 shares during the last quarter. Griffin Asset Management Inc. purchased a new stake in CVS Health Corporation during the second quarter valued at about $662,000. Gs Investments Inc. purchased a new stake in CVS Health Corporation during the second quarter valued at about $1,569,000. Toronto Dominion Bank lifted its holdings in CVS Health Corporation by 18.6% during the second quarter. Toronto Dominion Bank now owns 425,418 shares of the pharmacy operator’s stock valued at $34,233,000 after purchasing an additional 66,762 shares during the last quarter. Finally, Oak Associates Ltd. OH lifted its holdings in CVS Health Corporation by 2.2% during the second quarter. Oak Associates Ltd. OH now owns 204,771 shares of the pharmacy operator’s stock valued at $16,476,000 after purchasing an additional 4,391 shares during the last quarter. 81.55% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Corporation 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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