Investors Buy CVS Health (CVS) on Weakness

Investors purchased shares of CVS Health Corp (NYSE:CVS) on weakness during trading hours on Friday. $141.50 million flowed into the stock on the tick-up and $62.97 million flowed out of the stock on the tick-down, for a money net flow of $78.53 million into the stock. Of all equities tracked, CVS Health had the 20th highest net in-flow for the day. CVS Health traded down ($0.93) for the day and closed at $60.86

Several equities research analysts have commented on CVS shares. Jefferies Group set a $76.00 price target on shares of CVS Health and gave the company a “hold” rating in a report on Monday, December 4th. Robert W. Baird lowered their price target on shares of CVS Health from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. ValuEngine lowered shares of CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Vetr lowered shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price target on the stock. in a report on Thursday, January 4th. Finally, Royal Bank of Canada set a $95.00 price target on shares of CVS Health and gave the company a “buy” rating in a report on Monday, December 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $87.03.

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The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The company has a market cap of $63,327.09, a P/E ratio of 9.41, a PEG ratio of 1.03 and a beta of 1.03.

CVS Health (NYSE:CVS) last posted its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. During the same period in the prior year, the company posted $1.71 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. sell-side analysts forecast that CVS Health Corp will post 6.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, April 20th. CVS Health’s payout ratio is currently 30.91%.

In other news, EVP Helena Foulkes sold 19,965 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the sale, the executive vice president now directly owns 65,072 shares of the company’s stock, valued at approximately $4,622,714.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC raised its position in shares of CVS Health by 330.3% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 991 shares during the last quarter. Fieldpoint Private Securities LLC raised its position in shares of CVS Health by 333.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 1,000 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in shares of CVS Health by 119.6% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after purchasing an additional 726 shares during the last quarter. Wagner Wealth Management LLC acquired a new position in shares of CVS Health during the 4th quarter worth about $114,000. Finally, MPS Loria Financial Planners LLC acquired a new position in shares of CVS Health during the 2nd quarter worth about $119,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.

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CVS Health 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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