CVS Health Co. (NYSE:CVS – Get Rating) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 15,760,000 shares, an increase of 13.3% from the July 15th total of 13,910,000 shares. Based on an average trading volume of 5,060,000 shares, the days-to-cover ratio is presently 3.1 days. Approximately 1.2% of the company's stock are sold short.
Insider Buying and Selling
In related news, EVP Thomas M. Moriarty sold 138,654 shares of the company's stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total value of $13,172,130.00. Following the completion of the sale, the executive vice president now directly owns 626,273 shares of the company's stock, valued at $59,495,935. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other CVS Health news, EVP Alan Lotvin sold 22,541 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $104.00, for a total transaction of $2,344,264.00. Following the completion of the sale, the executive vice president now directly owns 109,183 shares of the company's stock, valued at $11,355,032. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas M. Moriarty sold 138,654 shares of the stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the sale, the executive vice president now directly owns 626,273 shares of the company's stock, valued at $59,495,935. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.
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Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. West Bancorporation Inc. acquired a new stake in shares of CVS Health during the 4th quarter worth about $25,000. Macroview Investment Management LLC increased its position in shares of CVS Health by 128.3% during the 1st quarter. Macroview Investment Management LLC now owns 242 shares of the pharmacy operator's stock worth $25,000 after purchasing an additional 136 shares during the last quarter. Claremont Financial Group Inc. acquired a new stake in shares of CVS Health during the 4th quarter worth about $26,000. Stuart Chaussee & Associates Inc. increased its position in shares of CVS Health by 123.0% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator's stock worth $31,000 after purchasing an additional 171 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in shares of CVS Health by 125.7% during the 4th quarter. Capital Advisors Ltd. LLC now owns 316 shares of the pharmacy operator's stock worth $33,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 78.00% of the company's stock.
CVS Health Price Performance
Shares of NYSE:CVS traded up $2.14 during midday trading on Friday, reaching $106.39. 5,064,373 shares of the company's stock traded hands, compared to its average volume of 5,176,096. CVS Health has a 1 year low of $81.78 and a 1 year high of $111.25. The company has a market cap of $139.67 billion, a P/E ratio of 17.30, a PEG ratio of 1.62 and a beta of 0.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.65 and a current ratio of 0.91. The company has a fifty day simple moving average of $95.10 and a two-hundred day simple moving average of $99.94.
CVS Health (NYSE:CVS – Get Rating) last announced its earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.24. The firm had revenue of $80.64 billion for the quarter, compared to analyst estimates of $76.38 billion. CVS Health had a return on equity of 15.19% and a net margin of 2.65%. The business's revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 EPS. Equities analysts predict that CVS Health will post 8.53 EPS for the current fiscal year.
CVS Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 22nd were issued a $0.55 dividend. The ex-dividend date was Thursday, July 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.07%. CVS Health's payout ratio is currently 35.77%.
Analysts Set New Price Targets
CVS has been the topic of several recent analyst reports. Loop Capital initiated coverage on shares of CVS Health in a report on Thursday, June 16th. They set a "buy" rating and a $120.00 price objective on the stock. Sanford C. Bernstein downgraded shares of CVS Health from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $122.00 to $112.00 in a report on Thursday, May 26th. UBS Group increased their price target on shares of CVS Health from $118.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of CVS Health from $113.00 to $120.00 in a report on Thursday, August 4th. Finally, Credit Suisse Group increased their price target on shares of CVS Health from $113.00 to $117.00 and gave the stock an "outperform" rating in a report on Monday, August 8th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $116.76.
CVS Health Company Profile
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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
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