Investors Buy CVS Health Corporation (NYSE:CVS) on Weakness

Investors bought shares of CVS Health Corporation (NYSE:CVS) on weakness during trading on Tuesday. $136.11 million flowed into the stock on the tick-up and $102.63 million flowed out of the stock on the tick-down, for a money net flow of $33.48 million into the stock. Of all stocks tracked, CVS Health Corporation had the 23rd highest net in-flow for the day. CVS Health Corporation traded down ($0.55) for the day and closed at $78.57

CVS has been the subject of several recent research reports. Evercore ISI restated an “outperform” rating and issued a $88.00 price target (up from $87.00) on shares of CVS Health Corporation in a research report on Wednesday, May 3rd. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price objective on the stock in a research note on Wednesday, May 17th. ValuEngine lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Tigress Financial began coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They issued a “buy” rating on the stock. Finally, Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $91.24.

The company has a market capitalization of $78.95 billion, a price-to-earnings ratio of 15.47 and a beta of 0.91. The stock’s 50 day moving average is $78.68 and its 200 day moving average is $78.94.

CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 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 business had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same quarter in the prior year, the company posted $1.32 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that CVS Health Corporation will post $5.88 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.

In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the company’s 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 sale, the executive vice president now owns 59,300 shares in the company, valued at approximately $4,564,914. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.00, for a total value of $18,440,800.00. Following the completion of the transaction, the chief financial officer now owns 176,983 shares in the company, valued at approximately $14,158,640. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,675 shares of company stock worth $21,831,647. 0.61% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CVS. Naples Global Advisors LLC purchased a new stake in shares of CVS Health Corporation during the first quarter worth about $452,000. Regent Investment Management LLC boosted its stake in CVS Health Corporation by 0.6% in the first quarter. Regent Investment Management LLC now owns 66,818 shares of the pharmacy operator’s stock worth $5,245,000 after buying an additional 429 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in CVS Health Corporation by 17.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 92,139 shares of the pharmacy operator’s stock worth $7,233,000 after buying an additional 14,012 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in CVS Health Corporation by 83.3% in the first quarter. Koshinski Asset Management Inc. now owns 21,694 shares of the pharmacy operator’s stock worth $1,703,000 after buying an additional 9,858 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its stake in CVS Health Corporation by 8.3% in the first quarter. CHICAGO TRUST Co NA now owns 31,634 shares of the pharmacy operator’s stock worth $2,483,000 after buying an additional 2,413 shares during the last quarter. 82.31% of the stock is owned by hedge funds and other 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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