CVS Caremark Corporation (NYSE:CVS)’s EVP sells 53,546 shares

Posted by Michael Korte September 17, 2013 0 Comment 1397 views

Executive Vice-President of CVS Caremark Corp. (NYSE:CVS), Helena Foulkes sold-off 53,546 shares of the company’s stock in the open-market in a transaction that took place on 13 September. The stock was sold-off at an average-price of $60.00 and the total valuation of the transaction was $3,212,760.00. Post completion of the sale, the EVP now directly-owns 7,897 shares in CVS Caremark Corporation (NYSE:CVS). This sale was disclosed in a SEC filing

Analysts’ speak

Recently, the company has been weighed by numerous research analysts. Cowen and Company analysts set a “market perform” rating on the stock on Friday. Zacks analysts reiterated their “neutral” rating on the company shares on 28 August and have now assigned a $61.00 price-target on the stock. Barclays Capital analysts have raised their price target on the shares from $67.00 to $69.00 on 8 August.

Six research analysts have assigned a “hold” rating on the stock and 20 analysts have assigned a “buy” rating. The average rating on the CVS Caremark Corporation (NYSE:CVS) stock is a “buy” and the average price-target is $62.89.

Earnings report

The company last issued its quarterly-earnings report on 6 August. It reported earnings per share of $0.97 for the quarter which topped the analyst estimate of $0.96 by $0.01. The revenue for the quarter came in at $31.25 billion in comparison to the average analyst estimate of $31.13B. In the same quarter of 2012, the company had posted earnings per share of $0.8. There was a 1.7% rise in revenue in comparison to the same quarter of 2012. On an average, analysts project that CVS Caremark Corporation (NYSE:CVS) will post earnings per share of $3.96 for the 2013 fiscal year.

In Monday’s trading, CVS Caremark Corporation (NYSE:CVS) stock rose by 1.75%. The shares opened at a price of $60.39 which climbed to an intraday high of $61.17 and then dipped to close at $60.95

About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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