CVS Surpassed By MetLife, Analyst Says
An extensive study of the recommendations from analysts at all major brokerages found that MetLife Inc. has overtaken the number 52 spot, which was once held by CVS Caremark Corporation (NYSE:CVS), Forbes reports.
According to the news source, ETF Channel combined the data by tallying and averaging the analysts remarks, then ranked those underlying components according to the averages. Although investors typically see different patterns in different data, popular analyst picks still emerge, as many individual minds often can create a single bullish idea.
However, if that stock falls at all, it would be seen as negative, and could further impact the stock. According to ETF Channel data, MetLife and CVS together make up 5.03 percent of the Dynamic Market Portfolio ETF, which today is trading lower at about 0.1 percent.
This loss to Metlife may have been the reason for a surge in insider trades among CVS officials recently. According to insider trading reports field with the SEC, Larry Merlo exercised his market option on July 2 for 161,359 shares valued at $30.03 each, then sold those shares for $46.96 for a profit of 2.73 million.
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