Investors Buy CVS Health (CVS) on Weakness
Traders purchased shares of CVS Health Corp (NYSE:CVS) on weakness during trading on Wednesday. $184.76 million flowed into the stock on the tick-up and $131.05 million flowed out of the stock on the tick-down, for a money net flow of $53.71 million into the stock. Of all equities tracked, CVS Health had the 3rd highest net in-flow for the day. CVS Health traded down ($1.23) for the day and closed at $71.62
Several research firms have recently weighed in on CVS. Loop Capital decreased their price target on shares of CVS Health from $83.00 to $73.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. Needham & Company LLC upped their price target on shares of CVS Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Jefferies Group decreased their price target on shares of CVS Health from $86.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. Deutsche Bank began coverage on shares of CVS Health in a report on Monday, December 4th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $86.35.
The company has a market capitalization of $72,550.49, a P/E ratio of 12.54, a P/E/G ratio of 1.34 and a beta of 0.89. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67.
In other CVS Health news, COO Jonathan C. Roberts sold 85,743 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the completion of the sale, the chief operating officer now directly owns 119,555 shares in the company, valued at $9,939,802.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the sale, the executive vice president now owns 43,178 shares of the company’s stock, valued at $3,504,758.26. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Fieldpoint Private Securities LLC boosted its holdings in shares of CVS Health by 333.3% during the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after buying an additional 991 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after buying an additional 726 shares during the period. MPS Loria Financial Planners LLC purchased a new stake in CVS Health in the second quarter worth about $119,000. Finally, Gemmer Asset Management LLC lifted its holdings in CVS Health by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 82.24% of the company’s stock.
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CVS Health 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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