CVS Health Corporation Target of Unusually High Options Trading (CVS)

CVS Health Corporation (NYSE:CVS) was the recipient of some unusual options trading activity on Friday. Stock traders bought 7,399 put options on the stock. This represents an increase of 375% compared to the typical daily volume of 1,558 put options.

In other CVS Health Corporation news, insider Larry J. Merlo sold 241,150 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the transaction, the insider now directly owns 299,255 shares in the company, valued at $24,859,112.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the transaction, the director now owns 3,258 shares in the company, valued at $259,401.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 716,625 shares of company stock worth $58,318,431. Corporate insiders own 0.61% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of CVS Health Corporation by 3.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock worth $13,840,000 after purchasing an additional 5,478 shares in the last quarter. Fiduciary Trust Co. boosted its stake in CVS Health Corporation by 1.2% in the first quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock worth $28,732,000 after buying an additional 4,265 shares in the last quarter. British Columbia Investment Management Corp boosted its stake in CVS Health Corporation by 3.7% in the first quarter. British Columbia Investment Management Corp now owns 561,299 shares of the pharmacy operator’s stock worth $44,062,000 after buying an additional 19,794 shares in the last quarter. Excalibur Management Corp boosted its stake in CVS Health Corporation by 10.2% in the second quarter. Excalibur Management Corp now owns 13,691 shares of the pharmacy operator’s stock worth $1,102,000 after buying an additional 1,265 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in CVS Health Corporation by 1.1% in the first quarter. Bahl & Gaynor Inc. now owns 14,922 shares of the pharmacy operator’s stock worth $1,171,000 after buying an additional 167 shares in the last quarter. 81.51% of the stock is owned by institutional investors.

CVS Health Corporation (CVS) opened at 76.92 on Monday. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $88.92. The stock has a 50 day moving average of $79.64 and a 200-day moving average of $79.03. The company has a market cap of $78.19 billion, a PE ratio of 15.32 and a beta of 0.92.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Monday, October 23rd. CVS Health Corporation’s payout ratio is 39.92%.

Several equities analysts have commented on CVS shares. BidaskClub downgraded shares of CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Loop Capital started coverage on shares of CVS Health Corporation in a report on Thursday, August 24th. They issued a “hold” rating and a $83.00 price objective on the stock. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the company a “buy” rating in a report on Tuesday, June 27th. Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, Vetr downgraded shares of CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 price objective on the stock. in a report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $89.56.

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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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