CVS Health Target of Unusually Large Options Trading (NYSE:CVS)

CVS Health Co. (NYSE:CVS - Get Free Report) was the target of some unusual options trading on Wednesday. Traders purchased 92,977 put options on the stock. This represents an increase of approximately 121% compared to the average volume of 42,006 put options.

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the business's stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now owns 21,630 shares of the company's stock, valued at $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company's stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVS Health

Hedge funds have recently bought and sold shares of the company. Atticus Wealth Management LLC lifted its stake in CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator's stock valued at $29,000 after purchasing an additional 219 shares during the last quarter. USA Financial Formulas lifted its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator's stock valued at $30,000 after purchasing an additional 321 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 243 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health in the 4th quarter valued at about $32,000. Finally, Creekmur Asset Management LLC acquired a new stake in CVS Health in the 4th quarter valued at about $34,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 1.5 %

Shares of CVS Health stock traded down $0.81 during trading hours on Wednesday, reaching $54.93. 13,618,157 shares of the company's stock were exchanged, compared to its average volume of 11,890,314. The company has a 50 day moving average of $71.95 and a two-hundred day moving average of $73.09. CVS Health has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The stock has a market cap of $68.96 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.88 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. The company's quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health will post 7.03 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 annualized dividend and a yield of 4.84%. CVS Health's dividend payout ratio (DPR) is currently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. Mizuho dropped their target price on shares of CVS Health from $86.00 to $72.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Cantor Fitzgerald cut shares of CVS Health from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $87.00 to $58.00 in a research report on Wednesday, May 1st. Barclays lowered their price objective on shares of CVS Health from $78.00 to $63.00 and set an "equal weight" rating for the company in a research report on Thursday, May 2nd. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Friday, March 15th. Finally, SVB Leerink restated a "market perform" rating and issued a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.67.

About CVS Health

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.