Traders Buy CVS Health (CVS) on Weakness

Traders purchased shares of CVS Health Corp (NYSE:CVS) on weakness during trading on Monday. $671.09 million flowed into the stock on the tick-up and $440.78 million flowed out of the stock on the tick-down, for a money net flow of $230.31 million into the stock. Of all equities tracked, CVS Health had the 4th highest net in-flow for the day. CVS Health traded down ($3.43) for the day and closed at $71.69

Several brokerages have recently weighed in on CVS. Loop Capital decreased their price objective on CVS Health from $83.00 to $73.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Needham & Company LLC raised their price objective on CVS Health from $79.00 to $85.00 and gave the company a “buy” rating in a report on Monday. Jefferies Group decreased their price objective on CVS Health from $86.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Deutsche Bank began coverage on CVS Health in a report on Monday. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Raymond James Financial restated a “buy” rating on shares of CVS Health in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. CVS Health currently has an average rating of “Buy” and a consensus price target of $86.35.

The company has a market cap of $72,621.40, a P/E ratio of 12.56, a PEG ratio of 1.23 and a beta of 0.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05.

CVS Health (NYSE:CVS) last issued its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The business had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. During the same period last year, the business posted $1.64 EPS. CVS Health’s revenue was up 3.5% on a year-over-year basis. sell-side analysts anticipate that CVS Health Corp will post 5.9 earnings per share for the current fiscal year.

In other CVS Health news, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the sale, the executive vice president now directly owns 70,102 shares in the company, valued at $5,580,820.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the sale, the chief financial officer now owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The disclosure for this sale can be found here. Insiders sold a total of 714,125 shares of company stock valued at $58,119,381 over the last quarter. 0.61% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in shares of CVS Health by 22.0% during the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after purchasing an additional 5,446,930 shares during the period. Truepoint Inc. increased its holdings in shares of CVS Health by 8,578.9% during the third quarter. Truepoint Inc. now owns 3,757,530 shares of the pharmacy operator’s stock worth $3,758,000 after purchasing an additional 3,714,235 shares during the period. Boston Partners increased its holdings in shares of CVS Health by 69.1% during the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock worth $519,711,000 after purchasing an additional 2,638,888 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of CVS Health by 30.2% during the third quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock worth $648,683,000 after purchasing an additional 1,849,593 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of CVS Health by 71.5% during the second quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock worth $317,805,000 after purchasing an additional 1,647,168 shares during the period. Hedge funds and other institutional investors 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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