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

CVS Health Co. (NYSE:CVS - Get Free Report) was the recipient of unusually large options trading on Friday. Stock investors bought 74,418 call options on the stock. This represents an increase of 72% compared to the typical volume of 43,376 call options.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in CVS Health during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $29,000. Bell Investment Advisors Inc increased its holdings in shares of CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after purchasing an additional 248 shares during the period. McIlrath & Eck LLC increased its holdings in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares during the period. Finally, Saudi Central Bank acquired a new position in shares of CVS Health in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 1.9%

Shares of NYSE CVS traded up $1.21 during midday trading on Friday, hitting $63.99. 13,306,917 shares of the company's stock were exchanged, compared to its average volume of 11,213,338. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a market cap of $80.95 billion, a PE ratio of 17.48, a P/E/G ratio of 0.98 and a beta of 0.60. The firm's fifty day simple moving average is $65.62 and its 200-day simple moving average is $59.67.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the company earned $1.31 EPS. The business's quarterly revenue was up 7.0% on a year-over-year basis. Research analysts predict that CVS Health will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.16%. CVS Health's dividend payout ratio is presently 63.48%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price target on CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Piper Sandler increased their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and a consensus price target of $74.94.

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.