CVS Health Corporation (CVS) Is Now En Route to Higher Prices

CVS Health Corporation (NYSE: CVS) is -16.38% lower on its value in year-to-date trading and has touched a low of $52.04 and a high of $77.03 in the current 52-week trading range. The CVS stock was last observed hovering at around $63.21 in the last trading session, with the day’s loss setting it -1.09% off its average median price target of $80.00 for the next 12 months. It is also 40.27% off the consensus price target high of $104.00 offered by 26 analysts, but current levels are 4.43% higher than the price target low of $65.00 for the same period.

Currently trading at $62.12, the stock is -3.56% and -3.07% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.17 million and changing -1.72% at the moment leaves the stock -6.27% off its SMA200. CVS registered 1.97% gain for a year compared to 6-month gain of -0.67%. The firm has a 50-day simple moving average (SMA 50) of $64.17 and a 200-day simple moving average (SMA200) of $63.02.

The stock witnessed a -1.30% loss in the last 1 month and extending the period to 3 months gives it a -7.06%, and is -2.74% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.71% over the week and 2.10% over the month.

CVS Health Corporation (CVS) has around 290000 employees, a market worth around $81.53B and $263.80B in sales. Current P/E ratio is 9.86 and Fwd P/E is 8.24. Profit margin for the company is 3.10%. Distance from 52-week low is 19.37% and -19.36% from its 52-week high. The company has generated returns on investments over the last 12 months (7.20%).

CVS Health Corporation (CVS) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for CVS Health Corporation (CVS) is a “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 2.10, where 6 rate it as a Hold and 1 think it is a “Overweight”. 19 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

CVS Health Corporation is expected to release its quarterly report on 11/06/2020 and quarterly earnings per share for the current quarter are estimated at $1.32 with sales reaching $66.53B over the same period.The EPS is expected to grow by 861.40% this year, but quarterly earnings will post 4.00% year-over-year. Quarterly sales are estimated to grow 2.70% in year-over-year returns.

CVS Health Corporation (CVS) Top Institutional Holders

2,296 institutions hold shares in CVS Health Corporation (CVS), with 2.51M shares held by insiders accounting for 0.19% while institutional investors hold 79.79% of the company’s shares. The shares outstanding are 1.31B, and float is at 1.31B with Short Float at 1.41%. Institutions hold 79.64% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 107.21 million shares valued at $6.97 billion. The investor’s holdings represent 8.19% of the CVS Shares outstanding. As of Jun 29, 2020, the second largest holder is Blackrock Inc. with 97.16 million shares valued at $6.31 billion to account for 7.42% of the shares outstanding. The other top investors are State Street Corporation which holds 57.0 million shares representing 4.36% and valued at over $3.7 billion, while FMR, LLC holds 2.11% of the shares totaling 27.66 million with a market value of $1.8 billion.

CVS Health Corporation (CVS) Insider Activity

A total of 29 insider transactions have happened at CVS Health Corporation (CVS) in the last six months, with sales accounting for 19 and purchases happening 10 times. The most recent transaction is an insider sale by Mayhew Jonathan E., the company’s EVP – Transformation. SEC filings show that Mayhew Jonathan E. sold 10,556 shares of the company’s common stock on May 26 at a price of $65.00 per share for a total of $0.69 million. Following the sale, the insider now owns 4732.0 shares.

CVS Health Corporation disclosed in a document filed with the SEC on May 26 that Clark James David (SVP, Cont & Chief Acct Officer) sold a total of 270 shares of the company’s common stock. The trade occurred on May 26 and was made at $65.00 per share for $17550.0. Following the transaction, the insider now directly holds 4547.0 shares of the CVS stock.

Still, SEC filings show that on May 11, Lotvin Alan (EVP and President-CVS Caremark) acquired 5,000 shares at an average price of $63.14 for $0.32 million. The insider now directly holds 15,161 shares of CVS Health Corporation (CVS).

CVS Health Corporation (CVS): Who are the competitors?

The company’s main competitors (and peers) include Walgreens Boots Alliance Inc. (WBA) that is trading -25.73% down over the past 12 months. Short interest in the company’s stock has fallen -0.05% from the last report on Jul 14, 2020 to stand at a total of 18.4 million short shares sold with a short interest ratio of 2.78.