Stock Traders Purchase Large Volume of CVS Health Call Options (NYSE:CVS)

CVS Health Co. (NYSE:CVS) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 96,851 call options on the stock. This represents an increase of approximately 64% compared to the average volume of 59,025 call options.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. UBS Group boosted their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Barclays cut their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Stock Down 0.2 %

CVS Health stock traded down $0.10 during mid-day trading on Wednesday, hitting $53.05. The company had a trading volume of 10,663,843 shares, compared to its average volume of 14,009,922. CVS Health has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a market capitalization of $66.76 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.79 and a beta of 0.59. The stock’s 50 day moving average price is $51.26 and its two-hundred day moving average price is $56.26. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. As a group, sell-side analysts anticipate that CVS Health will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.01%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Institutional Trading of CVS Health

A number of institutional investors and hedge funds have recently modified their holdings of the business. VCI Wealth Management LLC lifted its position in CVS Health by 52.5% during the fourth quarter. VCI Wealth Management LLC now owns 30,885 shares of the pharmacy operator’s stock valued at $1,386,000 after purchasing an additional 10,630 shares during the period. Canal Insurance CO raised its stake in CVS Health by 15.0% during the 4th quarter. Canal Insurance CO now owns 230,000 shares of the pharmacy operator’s stock valued at $10,325,000 after buying an additional 30,000 shares during the last quarter. CKW Financial Group lifted its holdings in shares of CVS Health by 9.1% during the 4th quarter. CKW Financial Group now owns 3,600 shares of the pharmacy operator’s stock valued at $162,000 after buying an additional 300 shares during the period. Blue Trust Inc. grew its holdings in shares of CVS Health by 56.1% in the fourth quarter. Blue Trust Inc. now owns 15,099 shares of the pharmacy operator’s stock worth $678,000 after acquiring an additional 5,426 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in CVS Health by 9.0% during the fourth quarter. Flagship Harbor Advisors LLC now owns 31,456 shares of the pharmacy operator’s stock valued at $1,412,000 after acquiring an additional 2,603 shares during 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.