CVS Health Corp (CVS) Short Interest Update

CVS Health Corp (NYSE:CVS) was the target of a significant growth in short interest in the month of December. As of December 29th, there was short interest totalling 32,959,903 shares, a growth of 5.5% from the December 15th total of 31,227,273 shares. Based on an average trading volume of 7,767,991 shares, the days-to-cover ratio is presently 4.2 days. Currently, 3.3% of the company’s shares are sold short.

Shares of CVS Health (NYSE:CVS) opened at $79.86 on Friday. The company has a market capitalization of $80,900.00, a PE ratio of 16.50, a P/E/G ratio of 1.25 and a beta of 0.90. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. CVS Health has a fifty-two week low of $66.45 and a fifty-two week high of $84.00.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. During the same period in the prior year, the company earned $1.64 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. equities analysts expect that CVS Health will post 5.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.50%. CVS Health’s dividend payout ratio (DPR) is currently 41.32%.

In other news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of CVS Health by 1.4% in the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock worth $6,159,825,000 after acquiring an additional 1,056,265 shares in the last quarter. FMR LLC increased its holdings in shares of CVS Health by 22.0% in the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after acquiring an additional 5,446,930 shares in the last quarter. Northern Trust Corp increased its holdings in shares of CVS Health by 5.5% in the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock worth $1,256,631,000 after acquiring an additional 807,639 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of CVS Health by 8.4% in the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock worth $1,138,905,000 after acquiring an additional 1,100,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of CVS Health by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock worth $882,860,000 after acquiring an additional 430,377 shares in the last quarter. Institutional investors own 81.69% of the company’s stock.

Several brokerages have recently issued reports on CVS. Cowen reaffirmed an “outperform” rating and set a $99.00 price target (up previously from $81.00) on shares of CVS Health in a research note on Thursday. Vetr lowered CVS Health from a “hold” rating to a “sell” rating and set a $76.66 price target on the stock. in a research note on Tuesday, January 16th. Leerink Swann upped their price target on CVS Health from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, January 8th. SunTrust Banks upped their price target on CVS Health to $90.00 and gave the company a “buy” rating in a research note on Friday, January 5th. Finally, Morgan Stanley upgraded CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective for the company in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $87.25.

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About CVS Health

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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