Investors Sell Shares of CVS Health Corporation (CVS) on Strength After Insider Selling

Investors sold shares of CVS Health Corporation (NYSE:CVS) on strength during trading hours on Tuesday after an insider sold shares in the company. $66.84 million flowed into the stock on the tick-up and $143.32 million flowed out of the stock on the tick-down, for a money net flow of $76.48 million out of the stock. Of all equities tracked, CVS Health Corporation had the 0th highest net out-flow for the day. CVS Health Corporation traded up $0.14 for the day and closed at $80.91Specifically, EVP Thomas M. Moriarty sold 20,547 shares of the 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 completion of the sale, the executive vice president now owns 43,178 shares in the company, valued at approximately $3,504,758.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the sale, the insider now owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. Insiders have sold a total of 716,625 shares of company stock valued at $58,318,431 over the last ninety days. 0.61% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup Inc. dropped their target price on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 target price on shares of CVS Health Corporation in a research report on Friday, June 9th. Wolfe Research cut shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. Finally, Royal Bank Of Canada assumed coverage on shares of CVS Health Corporation in a research report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price for the company. One 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 has a consensus rating of “Buy” and a consensus target price of $89.56.

The company has a 50 day moving average of $79.65 and a 200 day moving average of $79.03. The firm has a market capitalization of $81.40 billion, a P/E ratio of 15.95 and a beta of 0.92.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is currently 39.92%.

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of CVS Health Corporation by 3.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after buying an additional 5,478 shares during the period. Fiduciary Trust Co. increased its stake in shares of CVS Health Corporation by 1.2% in the first quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after buying an additional 4,265 shares during the period. British Columbia Investment Management Corp increased its stake in shares of CVS Health Corporation by 3.7% in the first quarter. British Columbia Investment Management Corp now owns 561,299 shares of the pharmacy operator’s stock valued at $44,062,000 after buying an additional 19,794 shares during the period. Bahl & Gaynor Inc. increased its stake in shares of CVS Health Corporation by 1.1% in the first quarter. Bahl & Gaynor Inc. now owns 14,922 shares of the pharmacy operator’s stock valued at $1,171,000 after buying an additional 167 shares during the period. Finally, Independent Advisor Alliance increased its stake in shares of CVS Health Corporation by 6.7% in the first quarter. Independent Advisor Alliance now owns 26,460 shares of the pharmacy operator’s stock valued at $2,038,000 after buying an additional 1,652 shares during the period. 81.49% of the stock is owned by institutional investors.

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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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