CVS Health Corp (CVS) Insider Larry J. Merlo Sells 166,368 Shares
CVS Health Corp (NYSE:CVS) insider Larry J. Merlo sold 166,368 shares of the firm’s stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $69.04, for a total transaction of $11,486,046.72. Following the transaction, the insider now directly owns 496,577 shares in the company, valued at $34,283,676.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NYSE CVS opened at $65.55 on Friday. CVS Health Corp has a twelve month low of $60.14 and a twelve month high of $83.88. The firm has a market cap of $67.28 billion, a P/E ratio of 11.11, a PEG ratio of 0.79 and a beta of 1.12. The company has a quick ratio of 1.94, a current ratio of 2.44 and a debt-to-equity ratio of 1.66.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $47.27 billion during the quarter, compared to analysts’ expectations of $47.22 billion. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. On average, research analysts predict that CVS Health Corp will post 7.04 EPS for the current fiscal year.
Several research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $96.00 target price on shares of CVS Health in a report on Thursday, January 3rd. Bank of America reaffirmed a “buy” rating and set a $92.00 target price on shares of CVS Health in a report on Thursday, January 3rd. Barclays assumed coverage on shares of CVS Health in a report on Tuesday, December 18th. They set an “overweight” rating and a $91.00 target price on the stock. Leerink Swann initiated coverage on shares of CVS Health in a report on Tuesday, December 11th. They set an “outperform” rating on the stock. Finally, Goldman Sachs Group reiterated a “neutral” rating and set a $87.00 price target on shares of CVS Health in a research report on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $91.98.
A number of institutional investors have recently added to or reduced their stakes in the stock. Griffin Asset Management Inc. increased its holdings in CVS Health by 1.4% during the 3rd quarter. Griffin Asset Management Inc. now owns 11,438 shares of the pharmacy operator’s stock worth $900,000 after acquiring an additional 160 shares during the period. Cornerstone Advisors Inc. increased its holdings in CVS Health by 71.6% during the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after acquiring an additional 212 shares during the period. Meristem Family Wealth LLC increased its holdings in CVS Health by 9.1% during the 3rd quarter. Meristem Family Wealth LLC now owns 3,470 shares of the pharmacy operator’s stock worth $273,000 after acquiring an additional 290 shares during the period. Rehmann Capital Advisory Group increased its holdings in CVS Health by 3.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 11,599 shares of the pharmacy operator’s stock worth $913,000 after acquiring an additional 389 shares during the period. Finally, Beaton Management Co. Inc. increased its holdings in CVS Health by 5.8% during the 3rd quarter. Beaton Management Co. Inc. now owns 7,279 shares of the pharmacy operator’s stock worth $573,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.
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About CVS Health
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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