CVS Health Corporation (CVS) EVP Thomas M. Moriarty Sells 20,547 Shares
CVS Health Corporation (NYSE:CVS) EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total value of $1,667,799.99. Following the completion of the sale, the executive vice president now owns 43,178 shares of the company’s stock, valued at approximately $3,504,758.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of CVS Health Corporation (NYSE CVS) traded up 0.17% during trading on Tuesday, hitting $80.91. The stock had a trading volume of 6,732,607 shares. The company has a market capitalization of $82.25 billion, a price-to-earnings ratio of 16.12 and a beta of 0.92. The firm has a 50 day moving average of $79.62 and a 200 day moving average of $79.03. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $88.92.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.32 earnings per share. Analysts expect that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is currently 39.92%.
Institutional investors have recently modified their holdings of the stock. CGOV Asset Management raised its position in shares of CVS Health Corporation by 0.3% during the first quarter. CGOV Asset Management now owns 1,148,337 shares of the pharmacy operator’s stock worth $120,090,000 after purchasing an additional 3,466 shares during the period. Waldron LP lifted its holdings in shares of CVS Health Corporation by 217.4% during the 1st quarter. Waldron LP now owns 10,633 shares of the pharmacy operator’s stock valued at $835,000 after purchasing an additional 7,283 shares in the last quarter. Penobscot Investment Management Company Inc. lifted its holdings in shares of CVS Health Corporation by 3.6% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 64,764 shares of the pharmacy operator’s stock valued at $5,084,000 after purchasing an additional 2,250 shares in the last quarter. Bartlett & Co. LLC lifted its holdings in shares of CVS Health Corporation by 0.9% during the 1st quarter. Bartlett & Co. LLC now owns 473,241 shares of the pharmacy operator’s stock valued at $37,149,000 after purchasing an additional 4,318 shares in the last quarter. Finally, Physicians Financial Services Inc. lifted its holdings in shares of CVS Health Corporation by 86.7% during the 1st quarter. Physicians Financial Services Inc. now owns 3,264 shares of the pharmacy operator’s stock valued at $256,000 after purchasing an additional 1,516 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on CVS. Vetr cut CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $87.97 target price for the company. in a research note on Monday, June 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a research report on Friday, June 9th. Cowen and Company reiterated an “outperform” rating and issued a $86.00 price target on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Leerink Swann set a $90.00 price target on shares of CVS Health Corporation and gave the company a “buy” rating in a report on Tuesday, June 27th. Finally, Needham & Company LLC initiated coverage on shares of CVS Health Corporation in a report on Tuesday, June 27th. They issued a “hold” rating for the company. One 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. CVS Health Corporation currently has a consensus rating of “Buy” and a consensus price target of $90.58.
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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