Investors Buy Large Volume of Call Options on CVS Health Corporation (CVS)

CVS Health Corporation (NYSE:CVS) saw some unusual options trading activity on Monday. Investors purchased 11,061 call options on the stock. This is an increase of approximately 221% compared to the typical volume of 3,444 call options.

CVS has been the subject of several research analyst reports. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price target for the company in a report on Wednesday, May 24th. Tigress Financial began coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They issued a “buy” rating for the company. Leerink Swann set a $90.00 target price on shares of CVS Health Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Finally, Needham & Company LLC began coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $91.27.

In other news, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $80.00, for a total value of $18,440,800.00. Following the completion of the transaction, the chief financial officer now owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Helena Foulkes sold 20,333 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the completion of the transaction, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at approximately $4,744,080. The disclosure for this sale can be found here. Insiders sold a total of 271,175 shares of company stock valued at $21,632,597 in the last three months. 0.61% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lincoln Capital Corp purchased a new position in CVS Health Corporation during the fourth quarter valued at $1,799,000. Wealthfront Inc. boosted its position in CVS Health Corporation by 1.3% in the fourth quarter. Wealthfront Inc. now owns 10,572 shares of the pharmacy operator’s stock valued at $834,000 after buying an additional 133 shares during the period. Perigon Wealth Management LLC boosted its position in CVS Health Corporation by 8.1% in the fourth quarter. Perigon Wealth Management LLC now owns 59,199 shares of the pharmacy operator’s stock valued at $4,796,000 after buying an additional 4,423 shares during the period. HighPoint Advisor Group LLC boosted its position in CVS Health Corporation by 18.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 10,340 shares of the pharmacy operator’s stock valued at $834,000 after buying an additional 1,616 shares during the period. Finally, M Holdings Securities Inc. boosted its position in CVS Health Corporation by 67.5% in the fourth quarter. M Holdings Securities Inc. now owns 9,887 shares of the pharmacy operator’s stock valued at $780,000 after buying an additional 3,986 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

CVS Health Corporation (CVS) opened at 79.43 on Thursday. The stock’s 50 day moving average is $78.75 and its 200-day moving average is $79.09. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $98.44. The firm has a market capitalization of $80.92 billion, a P/E ratio of 16.57 and a beta of 0.91.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The business had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. During the same period in the previous year, the company earned $1.32 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts forecast that CVS Health Corporation will post $5.87 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 41.67%.

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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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