Traders Buy Shares of CVS Health (CVS) on Weakness

Traders purchased shares of CVS Health Corp (NYSE:CVS) on weakness during trading hours on Thursday. $300.51 million flowed into the stock on the tick-up and $207.17 million flowed out of the stock on the tick-down, for a money net flow of $93.34 million into the stock. Of all companies tracked, CVS Health had the 19th highest net in-flow for the day. CVS Health traded down ($2.34) for the day and closed at $76.57

A number of equities analysts recently weighed in on CVS shares. Tigress Financial reaffirmed a “buy” rating on shares of CVS Health in a report on Friday, October 26th. Bank of America upped their price target on CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Royal Bank of Canada set a $99.00 price target on CVS Health and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Morgan Stanley set a $100.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Finally, Argus boosted their price objective on CVS Health to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $90.69.

The company has a quick ratio of 1.94, a current ratio of 2.44 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $78.01 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.10 and a beta of 0.98.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. The company had revenue of $47.27 billion during the quarter, compared to analyst estimates of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. CVS Health’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 EPS. On average, analysts expect that CVS Health Corp will post 7.03 EPS for the current year.

In other news, EVP Lisa Bisaccia sold 21,534 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Troyen A. Brennan sold 14,229 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $82.00, for a total value of $1,166,778.00. The disclosure for this sale can be found here. Insiders sold 74,233 shares of company stock valued at $5,932,565 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Canton Hathaway LLC purchased a new position in CVS Health in the third quarter worth approximately $126,000. MCF Advisors LLC grew its position in CVS Health by 284.1% in the third quarter. MCF Advisors LLC now owns 1,713 shares of the pharmacy operator’s stock worth $135,000 after acquiring an additional 1,267 shares during the period. Capital Guardian Trust Co. purchased a new position in CVS Health in the third quarter worth approximately $142,000. Patten Group Inc. grew its position in CVS Health by 163.4% in the third quarter. Patten Group Inc. now owns 1,844 shares of the pharmacy operator’s stock worth $145,000 after acquiring an additional 1,144 shares during the period. Finally, Sageworth Trust Co grew its position in CVS Health by 260.2% in the third quarter. Sageworth Trust Co now owns 2,215 shares of the pharmacy operator’s stock worth $174,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds own 84.50% of the company’s stock.

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About CVS Health (NYSE:CVS)

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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