Investors Sell CVS Health Corporation (CVS) on Strength on Insider Selling

Investors sold shares of CVS Health Corporation (NYSE:CVS) on strength during trading hours on Tuesday following insider selling activity. $115.61 million flowed into the stock on the tick-up and $148.46 million flowed out of the stock on the tick-down, for a money net flow of $32.85 million out of the stock. Of all equities tracked, CVS Health Corporation had the 26th highest net out-flow for the day. CVS Health Corporation traded up $2.71 for the day and closed at $82.43Specifically, EVP Helena Foulkes sold 20,333 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $80.00, for a total value of $1,626,640.00. Following the sale, the executive vice president now owns 59,301 shares in the company, valued at approximately $4,744,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas M. Moriarty sold 90,267 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $79.61, for a total value of $7,186,155.87. Following the completion of the sale, the executive vice president now owns 70,102 shares in the company, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 370,510 shares of company stock worth $29,460,266. 0.61% of the stock is owned by company insiders.

Several research analysts have weighed in on CVS shares. Vetr upgraded CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price objective on the stock in a research report on Wednesday, May 17th. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health Corporation in a research report on Sunday. ValuEngine cut CVS Health Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut CVS Health Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. CVS Health Corporation has an average rating of “Buy” and a consensus price target of $90.83.

The firm’s 50 day moving average is $78.40 and its 200-day moving average is $78.90. The firm has a market cap of $83.80 billion, a price-to-earnings ratio of 16.42 and a beta of 0.92.

CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.32 EPS. On average, equities research analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. boosted its holdings in CVS Health Corporation by 0.6% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock valued at $232,000 after acquiring an additional 18 shares during the period. Keel Point LLC boosted its holdings in CVS Health Corporation by 0.7% during the 1st quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock valued at $259,000 after acquiring an additional 22 shares during the period. First City Capital Management Inc. boosted its holdings in CVS Health Corporation by 0.3% during the 1st quarter. First City Capital Management Inc. now owns 12,771 shares of the pharmacy operator’s stock valued at $1,003,000 after acquiring an additional 40 shares during the period. Elefante Mark B boosted its holdings in CVS Health Corporation by 0.7% during the 2nd quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock valued at $515,000 after acquiring an additional 45 shares during the period. Finally, Traynor Capital Management Inc. boosted its holdings in CVS Health Corporation by 1.3% during the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock valued at $290,000 after acquiring an additional 48 shares during the period. Institutional investors own 81.55% of the company’s stock.

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CVS Health Corporation 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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