CVS Health Sees Unusually High Options Volume (NYSE:CVS)

CVS Health Co. (NYSE:CVS) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 53,221 call options on the company. This is an increase of approximately 62% compared to the average volume of 32,948 call options.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CVS shares. SVB Leerink reiterated a “market perform” rating and set a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a research note on Wednesday. Barclays began coverage on CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Piper Sandler upped their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Cantor Fitzgerald lowered CVS Health from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $87.00 to $58.00 in a report on Wednesday. Finally, StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.28.

CVS Health Stock Down 16.8 %

CVS Health stock opened at $56.32 on Thursday. The firm’s 50 day moving average price is $73.63 and its two-hundred day moving average price is $73.50. The firm has a market cap of $70.99 billion, a PE ratio of 8.72, a P/E/G ratio of 0.90 and a beta of 0.56. CVS Health has a twelve month low of $54.00 and a twelve month high of $83.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same period last year, the company earned $1.99 earnings per share. CVS Health’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that CVS Health will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 4.72%. CVS Health’s payout ratio is presently 41.18%.

Insiders Place Their Bets

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CVS Health

Several hedge funds have recently made changes to their positions in the stock. Atticus Wealth Management LLC increased its position in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares in the last quarter. USA Financial Formulas boosted its stake in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health during the fourth quarter worth $32,000. Creekmur Asset Management LLC bought a new position in shares of CVS Health in the fourth quarter valued at about $34,000. Finally, Steph & Co. lifted its position in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.