CVS Health Co. (NYSE:CVS) Director Buys $2,001,000.00 in Stock

CVS Health Co. (NYSE:CVS) Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

CVS Health Stock Down 2.6 %

CVS opened at $63.42 on Friday. The stock has a market cap of $79.95 billion, a PE ratio of 17.33, a P/E/G ratio of 0.99 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The business’s fifty day simple moving average is $52.39 and its 200 day simple moving average is $56.23.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, research analysts expect that CVS Health Co. will post 5.9 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.19%. CVS Health’s dividend payout ratio is currently 72.68%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the third quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health in the third quarter worth about $31,000. Reston Wealth Management LLC purchased a new position in shares of CVS Health in the third quarter worth about $32,000. Ridgewood Investments LLC increased its holdings in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in CVS Health during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI increased their target price on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, TD Cowen increased their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.00.

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.