CVS Health Corporation (CVS) Director Sells $199,050.00 in Stock
CVS Health Corporation (NYSE:CVS) Director Richard J. Swift sold 2,500 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
CVS Health Corporation (NYSE CVS) traded down 1.56% during trading on Friday, reaching $77.66. 5,005,371 shares of the company were exchanged. The firm’s 50 day moving average price is $78.76 and its 200-day moving average price is $78.95. CVS Health Corporation has a one year low of $69.30 and a one year high of $98.44. The stock has a market capitalization of $78.95 billion, a price-to-earnings ratio of 15.47 and a beta of 0.91.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data 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 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 the consensus estimate of $45.36 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that CVS Health Corporation will post $5.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s payout ratio is 39.92%.
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Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of CVS Health Corporation by 1.4% in the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock worth $6,159,825,000 after buying an additional 1,056,265 shares during the last quarter. FMR LLC increased its stake in shares of CVS Health Corporation by 22.0% in the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after buying an additional 5,446,930 shares during the last quarter. Bank of America Corp DE increased its stake in shares of CVS Health Corporation by 1.8% in the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock worth $1,759,338,000 after buying an additional 398,999 shares during the last quarter. Northern Trust Corp increased its stake in shares of CVS Health Corporation by 5.5% in the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock worth $1,256,631,000 after buying an additional 807,639 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of CVS Health Corporation by 8.4% in the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock worth $1,138,905,000 after buying an additional 1,100,373 shares during the last quarter. 82.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on CVS. Citigroup Inc. cut their price target on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday. Vetr cut shares of CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 price target for the company. in a research note on Thursday, April 27th. Cowen and Company reiterated an “outperform” rating and issued a $86.00 price target on shares of CVS Health Corporation in a research note on Tuesday, June 13th. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Leerink Swann set a $90.00 price target on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $91.24.
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.
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