Stocks With Insider Buying, Buybacks: CVS

CVS recently partnered with Google's(GOOG Quote) Google Health to launch a new product that will allow users to securely store and manage their health records online.

We also like to see that Deutsche Bank has a buy rating on the stock and a price target of $52. After an analyst meeting on May 22, Deutsche Bank analysts said: "Based on what we heard, we are incrementally more confident in CVS's prospects to see further share gains in both the retail and PBM market."

The D.E. Shaw Group is a distinguished international investment fund that's buying shares of CVS. The $50 billion firm targets major industrialized nations, along with many emerging markets. It is also investing in Wal- Mart and Coca-Cola.

One of the world's largest hedge funds, the Citadel Investment Group, is also an owner of CVS stock. This $20 billion Chicago-based fund was founded by Kenneth C. Griffin and is known for its daily trading volume, which amounts to 1% to 2% of daily trading activity in New York and Tokyo. From inception through 2006, Citadel Investment Group achieved an annualized net return of approximately 25%, making it one of the best-performing hedge funds within that period. Its other stock picks include Kroger and Marvell Technology.

So we have a buyback, record high earnings, a buy rating and two highly regarded investors into the stock. It may be time to take a closer look at CVS.

Lexmark also makes this week's list. The Lexington, Ky.-based manufacturer of printing products said that its board authorized the repurchase of up to $750 million in common stock. The company did not offer an expiration date for the buyback. This new repurchase plan raises the company's total repurchase amount to $4.65 billion from $3.90 billion. Lexmark has approximately $250 million left over from the previous buyback plan; therefore, the company has about $1 billion available for repurchase.