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

CVS Health Co. (NYSE:CVS) was the recipient of some unusual options trading on Thursday. Investors purchased 122,130 put options on the company. This is an increase of 134% compared to the average daily volume of 52,206 put options.

Analyst Ratings Changes

CVS has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Piper Sandler dropped their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Truist Financial reiterated a “buy” rating and set a $67.00 price target (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.12.

Institutional Investors Weigh In On CVS Health

Several institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after acquiring an additional 66,244 shares in the last quarter. Old North State Trust LLC acquired a new stake in shares of CVS Health in the third quarter worth $200,000. Tidal Investments LLC raised its holdings in CVS Health by 52.2% in the 3rd quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock valued at $7,043,000 after acquiring an additional 38,408 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CVS Health in the 3rd quarter valued at $2,071,000. Finally, World Investment Advisors LLC boosted its stake in CVS Health by 280.7% in the 3rd quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock valued at $1,732,000 after buying an additional 20,308 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 1.5 %

NYSE CVS traded up $0.67 on Thursday, reaching $44.92. The company had a trading volume of 11,265,004 shares, compared to its average volume of 11,649,337. The firm has a 50-day moving average of $54.92 and a 200-day moving average of $57.85. CVS Health has a 1 year low of $43.56 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a market capitalization of $56.53 billion, a PE ratio of 11.40, a P/E/G ratio of 0.85 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the business posted $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that CVS Health will post 5.32 EPS for the current fiscal year.

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.