Insider Selling: CVS Health Corporation (CVS) EVP Sells $1,667,799.99 in Stock
CVS Health Corporation (NYSE:CVS) EVP Thomas M. Moriarty sold 20,547 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the transaction, the executive vice president now directly owns 43,178 shares in the company, valued at $3,504,758.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of CVS Health Corporation (NYSE:CVS) opened at 80.90 on Friday. The company’s 50-day moving average is $79.69 and its 200 day moving average is $79.05. The firm has a market capitalization of $82.24 billion, a PE ratio of 16.12 and a beta of 0.92. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $88.92.
CVS Health Corporation (NYSE:CVS) last announced its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the 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 firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. During the same quarter in the previous year, the company posted $1.32 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s payout ratio is 39.92%.
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A number of hedge funds have recently made changes to their positions in the stock. Pathstone Family Office LLC increased its stake in shares of CVS Health Corporation by 341.0% during the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after acquiring an additional 982 shares during the last quarter. Fieldpoint Private Securities LLC increased its stake in shares of CVS Health Corporation by 333.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the last quarter. Mercer Capital Advisers Inc. acquired a new position in shares of CVS Health Corporation during the 1st quarter valued at about $118,000. TB Alternative Assets Ltd. acquired a new position in shares of CVS Health Corporation during the 2nd quarter valued at about $121,000. Finally, MPS Loria Financial Planners LLC acquired a new position in shares of CVS Health Corporation during the 2nd quarter valued at about $119,000. 81.49% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of CVS Health Corporation in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price objective on the stock. Jefferies Group LLC increased their price objective on shares of CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a report on Friday, September 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a report on Sunday, September 10th. BidaskClub downgraded shares of CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Loop Capital assumed coverage on shares of CVS Health Corporation in a report on Thursday, August 24th. They set a “hold” rating and a $83.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.56.
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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