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

CVS Health Co. (NYSE:CVS) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 96,851 call options on the company. This represents an increase of approximately 64% compared to the typical daily volume of 59,025 call options.

Analyst Ratings Changes

A number of research analysts have issued reports on CVS shares. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Truist Financial dropped their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, TD Cowen raised 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Down 0.2 %

NYSE CVS opened at $53.05 on Thursday. CVS Health has a 12 month low of $43.56 and a 12 month high of $80.75. The stock’s 50 day moving average is $51.26 and its 200 day moving average 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. The stock has a market cap of $66.76 billion, a PE ratio of 13.46, a P/E/G ratio of 0.79 and a beta of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 EPS. Research analysts predict that CVS Health will post 5.22 EPS for the current fiscal year.

CVS Health Announces Dividend

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

Institutional Trading of CVS Health

Several hedge funds have recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the third quarter valued at $25,000. Ridgewood Investments LLC raised its position in shares of 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 buying an additional 450 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health during the 3rd quarter valued at about $31,000. Finally, Reston Wealth Management LLC purchased a new stake in CVS Health during the third quarter valued at approximately $32,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

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.