CVS Health Corp (NYSE:CVS) EVP Troyen A. Brennan sold 23,849 shares of the company’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $78.73, for a total transaction of $1,877,631.77. Following the sale, the executive vice president now directly owns 94,309 shares in the company, valued at approximately $7,424,947.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of CVS Health Corp (NYSE:CVS) opened at 78.49 on Monday. The company has a 50 day moving average of $79.40 and a 200-day moving average of $81.86. CVS Health Corp has a 12-month low of $69.30 and a 12-month high of $106.67. The firm has a market cap of $83.28 billion, a price-to-earnings ratio of 15.99 and a beta of 0.85.
CVS Health Corp (NYSE:CVS) last announced its earnings results on Thursday, February 9th. The pharmacy operator reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $46 billion for the quarter, compared to analyst estimates of $46.56 billion. CVS Health Corp had a net margin of 3.00% and a return on equity of 17.55%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.53 EPS. Analysts predict that CVS Health Corp will post $5.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, April 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Wednesday, April 19th. CVS Health Corp’s payout ratio is 40.65%.
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Several large investors have recently made changes to their positions in the stock. Integrated Wealth Management raised its stake in shares of CVS Health Corp by 3.8% in the third quarter. Integrated Wealth Management now owns 1,348 shares of the pharmacy operator’s stock worth $120,000 after buying an additional 49 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of CVS Health Corp during the fourth quarter worth $120,000. D Orazio & Associates Inc. raised its stake in shares of CVS Health Corp by 34.5% in the fourth quarter. D Orazio & Associates Inc. now owns 1,560 shares of the pharmacy operator’s stock worth $123,000 after buying an additional 400 shares during the last quarter. Gemmer Asset Management LLC raised its stake in shares of CVS Health Corp by 7.6% in the third quarter. Gemmer Asset Management LLC now owns 1,409 shares of the pharmacy operator’s stock worth $125,000 after buying an additional 100 shares during the last quarter. Finally, Elgethun Capital Management bought a new stake in shares of CVS Health Corp during the fourth quarter worth $133,000. 81.29% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Oppenheimer Holdings Inc. set a $88.00 price objective on shares of CVS Health Corp and gave the company a “buy” rating in a report on Sunday, December 18th. Leerink Swann set a $90.00 price objective on shares of CVS Health Corp and gave the company a “buy” rating in a report on Saturday, February 11th. Vetr lowered shares of CVS Health Corp from a “strong-buy” rating to a “buy” rating and set a $86.51 price objective on the stock. in a report on Thursday, December 8th. Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of CVS Health Corp in a report on Wednesday, December 28th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of CVS Health Corp in a report on Monday, December 19th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. CVS Health Corp presently has an average rating of “Buy” and an average price target of $95.99.
About CVS Health Corp
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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