Morgan Stanley Maintains Overweight Rating on Coventry Health Care

A report from Morgan Stanley reiterates its Overweight rating on Coventry Health Care (NYSE: CVH).

The report states, “This weekend, CVH announced an increase in its share repurchase authorization equal to 10% of common stock (an incremental 14.4mm shares). This comes on the heels of the 4.3mm and 7.3mm shares bought back during the three months and nine months ended 9/30, respectively, which had left 5.3mm in remaining authorization.”

CVH closed Friday at $30.08.