Investors Buy High Volume of Put Options on CVS Health Corporation (NYSE:CVS)
CVS Health Corporation (NYSE:CVS) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 15,383 put options on the company. This represents an increase of approximately 410% compared to the typical daily volume of 3,015 put options.
A number of brokerages have recently weighed in on CVS. Evercore ISI reaffirmed an “outperform” rating and set a $88.00 target price (up previously from $87.00) on shares of CVS Health Corporation in a research note 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 target price 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 set 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $93.67.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $76.98, for a total value of $1,565,157.36. Following the transaction, the executive vice president now owns 59,300 shares in the company, valued at $4,564,914. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction 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. Insiders sold 271,175 shares of company stock worth $21,632,597 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mercer Capital Advisers Inc. purchased a new stake in CVS Health Corporation during the first quarter worth $118,000. TB Alternative Assets Ltd. purchased a new stake in CVS Health Corporation during the second quarter worth $121,000. Gemmer Asset Management LLC boosted its stake 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 worth $121,000 after buying an additional 200 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in CVS Health Corporation during the fourth quarter worth $120,000. Finally, D Orazio & Associates Inc. boosted its stake in CVS Health Corporation by 34.5% in the fourth quarter. D Orazio & Associates Inc. now owns 1,560 shares of the pharmacy operator’s stock worth $123,000 after buying an additional 400 shares in the last quarter. 81.96% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Corporation (NYSE CVS) opened at 77.03 on Friday. The stock has a 50 day moving average of $78.76 and a 200 day moving average of $79.29. The company has a market cap of $78.48 billion, a P/E ratio of 16.06 and a beta of 0.91. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $98.66.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $44.51 billion for the quarter, compared to the consensus estimate of $44.20 billion. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 EPS. On average, analysts expect that CVS Health Corporation will post $5.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is 41.67%.
TRADEMARK VIOLATION WARNING: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/07/22/investors-buy-high-volume-of-put-options-on-cvs-health-corporation-nysecvs.html.
About CVS Health Corporation
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.
Receive News & Ratings for CVS Health Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health Corporation and related companies with MarketBeat.com's FREE daily email newsletter.