CVS Health Corporation (NYSE:CVS) released its earnings results on Tuesday. The pharmacy operator reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02, Bloomberg Earnings reports. The business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. CVS Health Corporation updated its Q3 guidance to $1.47-1.50 EPS and its FY17 guidance to $5.83-5.93 EPS.
CVS Health Corporation (CVS) opened at 79.12 on Tuesday. The firm’s 50-day moving average is $78.75 and its 200-day moving average is $79.09. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.44. The firm has a market capitalization of $80.61 billion, a PE ratio of 16.50 and a beta of 0.91. CVS Health Corporation also was the target of some unusual options trading on Monday. Investors bought 12,222 put options on the stock. This is an increase of approximately 254% compared to the typical volume of 3,454 put options.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.00 annualized dividend and a dividend yield of 2.53%. CVS Health Corporation’s dividend payout ratio is presently 41.67%.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the completion of the sale, the executive vice president now owns 59,300 shares of the company’s stock, valued at $4,564,914. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the sale, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The disclosure for this sale can be found here. In the last three months, insiders sold 271,175 shares of company stock valued at $21,632,597. 0.61% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in CVS. BDO Wealth Advisors LLC bought a new stake in shares of CVS Health Corporation during the second quarter worth about $1,346,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in CVS Health Corporation by 10.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 235,241 shares of the pharmacy operator’s stock valued at $18,927,000 after buying an additional 22,836 shares in the last quarter. USS Investment Management Ltd boosted its stake in CVS Health Corporation by 12.1% in the second quarter. USS Investment Management Ltd now owns 321,700 shares of the pharmacy operator’s stock valued at $25,892,000 after buying an additional 34,600 shares in the last quarter. Willingdon Wealth Management boosted its stake in CVS Health Corporation by 142.2% in the second quarter. Willingdon Wealth Management now owns 15,982 shares of the pharmacy operator’s stock valued at $1,286,000 after buying an additional 9,384 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in CVS Health Corporation by 0.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 477,162 shares of the pharmacy operator’s stock valued at $38,140,000 after buying an additional 2,750 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.
CVS has been the topic of a number of recent research reports. Jefferies Group LLC restated a “hold” rating and set a $82.00 price target on shares of CVS Health Corporation in a research report on Friday, June 9th. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price target on the stock in a research report on Wednesday, May 24th. Evercore ISI restated an “outperform” rating and set a $88.00 price target (up from $87.00) on shares of CVS Health Corporation in a research report on Wednesday, May 3rd. Cowen and Company restated an “outperform” rating and set a $86.00 price target on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Finally, Tigress Financial initiated coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They issued a “buy” rating on the stock. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $92.20.
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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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