Investors Sell Shares of CVS Health (CVS) on Strength (CVS)
Investors sold shares of CVS Health Corp (NYSE:CVS) on strength during trading hours on Tuesday. $91.86 million flowed into the stock on the tick-up and $139.91 million flowed out of the stock on the tick-down, for a money net flow of $48.05 million out of the stock. Of all equities tracked, CVS Health had the 17th highest net out-flow for the day. CVS Health traded up $0.24 for the day and closed at $70.11
Several brokerages have recently weighed in on CVS. Needham & Company LLC upgraded shares of CVS Health from a “buy” rating to a “strong-buy” rating and increased their price objective for the stock from $88.00 to $100.00 in a research note on Tuesday, January 30th. Mizuho set a $95.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Cowen reiterated an “outperform” rating and issued a $99.00 price objective (up previously from $81.00) on shares of CVS Health in a research note on Thursday, January 18th. Vetr cut shares of CVS Health from a “hold” rating to a “sell” rating and set a $76.66 price objective on the stock. in a research note on Tuesday, January 16th. Finally, ValuEngine cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $87.82.
The company has a market capitalization of $71,020.00, a P/E ratio of 11.88, a P/E/G ratio of 1.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 0.52.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Tuesday, January 23rd. CVS Health’s payout ratio is currently 33.90%.
In other news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the sale, the executive vice president now owns 15,556 shares in the company, valued at $1,166,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CVS. Beach Investment Management LLC. bought a new stake in shares of CVS Health during the second quarter valued at approximately $2,224,000. Boston Partners grew its holdings in shares of CVS Health by 69.1% in the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after purchasing an additional 2,638,888 shares in the last quarter. National Planning Corp grew its holdings in shares of CVS Health by 2.9% in the second quarter. National Planning Corp now owns 17,646 shares of the pharmacy operator’s stock valued at $1,423,000 after purchasing an additional 492 shares in the last quarter. Partnervest Advisory Services LLC purchased a new position in shares of CVS Health in the second quarter valued at $209,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of CVS Health by 0.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 184,007 shares of the pharmacy operator’s stock valued at $14,805,000 after purchasing an additional 1,260 shares in the last quarter. Hedge funds and other institutional investors own 80.81% 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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