CVS Health Corporation Target of Unusually Large Options Trading (NYSE:CVS)

CVS Health Corporation (NYSE:CVS) saw some unusual options trading on Monday. Traders purchased 11,061 call options on the stock. This is an increase of approximately 221% compared to the typical volume of 3,444 call options.

CVS Health Corporation (NYSE CVS) opened at 79.41 on Friday. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $98.44. The firm’s 50 day moving average price is $78.83 and its 200-day moving average price is $78.96. The stock has a market cap of $80.73 billion, a P/E ratio of 15.82 and a beta of 0.91.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The business had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same period in the previous year, the company earned $1.32 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts anticipate that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio is currently 39.92%.

Several equities research analysts have issued reports on the company. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price target on shares of CVS Health Corporation in a research note on Friday, June 9th. ValuEngine lowered CVS Health Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Vetr raised CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $88.97 price target for the company in a research note on Tuesday, June 6th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $86.00 price target on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $91.27.

In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of CVS Health Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the completion of the sale, the executive vice president now owns 59,300 shares of the company’s stock, valued at $4,564,914. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the sale, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The disclosure for this sale can be found here. Insiders have sold 271,175 shares of company stock valued at $21,632,597 in the last three months. 0.61% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Pathstone Family Office LLC raised its position in CVS Health Corporation by 341.0% in the second quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after buying an additional 982 shares in the last quarter. Mercer Capital Advisers Inc. purchased a new position in CVS Health Corporation during the first quarter valued at about $118,000. TB Alternative Assets Ltd. purchased a new position in CVS Health Corporation during the second quarter valued at about $121,000. Gemmer Asset Management LLC raised its position in CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in CVS Health Corporation during the second quarter valued at about $155,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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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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