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

CVS Health Co. (NYSE:CVS) was the recipient of unusually large options trading on Friday. Traders acquired 72,308 call options on the stock. This represents an increase of approximately 70% compared to the typical volume of 42,554 call options.

CVS Health Price Performance

Shares of NYSE:CVS traded up $2.05 during midday trading on Friday, reaching $64.97. 7,656,840 shares of the company were exchanged, compared to its average volume of 10,987,624. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a market cap of $81.56 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. The business’s fifty day moving average is $58.52 and its two-hundred day moving average is $61.67. CVS Health has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that CVS Health will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Ratings Changes

Several equities analysts have issued reports on CVS shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Barclays lowered their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Wells Fargo & Company increased their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.40.

Hedge Funds Weigh In On CVS Health

Several institutional investors have recently bought and sold shares of CVS. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the 4th quarter valued at approximately $32,000. First Community Trust NA grew its stake in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in shares of CVS Health during the 4th quarter worth approximately $34,000. Steph & Co. boosted its holdings in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the period. Finally, ORG Partners LLC grew its position in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

About CVS Health

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.