Investors Buy Shares of CVS Health (CVS) on Weakness

Traders purchased shares of CVS Health Corp (NYSE:CVS) on weakness during trading hours on Wednesday. $131.69 million flowed into the stock on the tick-up and $62.15 million flowed out of the stock on the tick-down, for a money net flow of $69.54 million into the stock. Of all equities tracked, CVS Health had the 12th highest net in-flow for the day. CVS Health traded down ($0.92) for the day and closed at $72.76

A number of research firms have recently commented on CVS. Royal Bank of Canada began coverage on CVS Health in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price objective for the company. Jefferies Group boosted their price objective on CVS Health from $82.00 to $86.00 and gave the company a “hold” rating in a research report on Friday, September 15th. Robert W. Baird restated a “hold” rating and issued a $77.00 price objective on shares of CVS Health in a research report on Friday, October 27th. Mizuho set a $90.00 price objective on CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Tigress Financial restated a “buy” rating on shares of CVS Health in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.35.

The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $74,640.00, a P/E ratio of 15.03, a PEG ratio of 1.38 and a beta of 0.89.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a return on equity of 14.90% and a net margin of 2.78%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. research analysts expect that CVS Health Corp will post 5.9 EPS for the current fiscal year.

In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas M. Moriarty sold 20,547 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $81.17, for a total value of $1,667,799.99. Following the transaction, the executive vice president now directly owns 43,178 shares in the company, valued at approximately $3,504,758.26. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in CVS Health by 22.0% in the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after purchasing an additional 5,446,930 shares during the period. Truepoint Inc. raised its position in CVS Health by 8,578.9% in the third quarter. Truepoint Inc. now owns 3,757,530 shares of the pharmacy operator’s stock valued at $3,758,000 after purchasing an additional 3,714,235 shares during the period. Boston Partners raised its position in 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 during the period. Ameriprise Financial Inc. raised its position in CVS Health by 30.2% in the third quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock valued at $648,683,000 after purchasing an additional 1,849,593 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in CVS Health by 71.5% in the second quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock valued at $317,805,000 after purchasing an additional 1,647,168 shares during the period. 81.63% of the stock is currently owned by institutional investors.

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About CVS Health

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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