CVS Health Corporation (CVS) Insider Sells $20,032,330.50 in Stock
CVS Health Corporation (NYSE:CVS) insider Larry J. Merlo sold 241,150 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the transaction, the insider now directly owns 299,255 shares in the company, valued at $24,859,112.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
CVS Health Corporation (NYSE CVS) traded up 0.64% during midday trading on Friday, hitting $83.17. 7,483,220 shares of the company traded hands. The company has a market capitalization of $84.55 billion, a price-to-earnings ratio of 16.57 and a beta of 0.92. The stock’s 50-day moving average price is $78.80 and its 200 day moving average price is $78.96. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $90.85.
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 Zacks’ 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 analyst estimates of $45.36 billion. During the same quarter in the prior year, the business earned $1.32 EPS. CVS Health Corporation’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that CVS Health Corporation will post $5.88 EPS for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Intl Fcstone Inc. grew its stake in CVS Health Corporation by 283.0% in the 2nd quarter. Intl Fcstone Inc. now owns 40,559 shares of the pharmacy operator’s stock valued at $3,263,000 after buying an additional 29,968 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in CVS Health Corporation in the 2nd quarter valued at about $662,000. Gs Investments Inc. acquired a new position in CVS Health Corporation in the 2nd quarter valued at about $1,569,000. Toronto Dominion Bank grew its stake in CVS Health Corporation by 18.6% in the 2nd quarter. Toronto Dominion Bank now owns 425,418 shares of the pharmacy operator’s stock valued at $34,233,000 after buying an additional 66,762 shares during the last quarter. Finally, Oak Associates Ltd. OH grew its stake in CVS Health Corporation by 2.2% in the 2nd quarter. Oak Associates Ltd. OH now owns 204,771 shares of the pharmacy operator’s stock valued at $16,476,000 after buying an additional 4,391 shares during the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.
Several research firms have commented on CVS. Jefferies Group LLC increased their target price on shares of CVS Health Corporation from $82.00 to $86.00 and gave the stock a “hold” rating in a research report on Friday. Cowen and Company reissued an “outperform” rating and set a $86.00 target price on shares of CVS Health Corporation in a research report on Tuesday, June 13th. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup Inc. lowered their target price on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. Finally, Leerink Swann set a $90.00 target price on shares of CVS Health Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $90.35.
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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