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

CVS Health Co. (NYSE:CVS) was the target of unusually large options trading on Tuesday. Stock traders acquired 53,221 call options on the company. This represents an increase of approximately 62% compared to the typical daily volume of 32,948 call options.

CVS Health Stock Performance

CVS stock traded up $0.28 during trading on Tuesday, hitting $67.73. 13,476,347 shares of the company traded hands, compared to its average volume of 10,639,692. The stock’s 50-day simple moving average is $74.05 and its 200 day simple moving average is $73.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The company has a market cap of $85.37 billion, a PE ratio of 10.48, a P/E/G ratio of 0.89 and a beta of 0.52. CVS Health has a 1 year low of $64.41 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. CVS Health’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $1.99 earnings per share. On average, equities analysts expect that CVS Health will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Atticus Wealth Management LLC increased its position in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares in the last quarter. USA Financial Formulas boosted its stake in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health in the fourth quarter worth approximately $32,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health in the fourth quarter worth approximately $34,000. Finally, Steph & Co. boosted its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CVS shares. SVB Leerink started coverage on CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Royal Bank of Canada dropped their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Finally, Barclays began coverage on CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

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.