With over 8.68 million CVS Health Corp (CVS) shares trading Tuesday and a closing price of $80.85 on the day, the dollar volume was approximately $701.84 million. The shares have shown a positive half year performance of 15.88% and its price on 01/02/24 gained nearly 2.39%. Currently, there are 1.30B common shares owned by the public and among those 1.28B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 28 analysts who have offered their price forecasts for CVS have a consensus price objective of $88.04. The analysts have set the share’s price value over the next 12 months at a high of $104.00 and a low of $74.00. The average price target is 8.17% above its recent price level and a downside to the estimated low will see the stock lose -9.26% over that period. But an upside of 22.26% will see the stock hit the forecast high price target while median target price for the stock is $86.00.
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Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 510,268 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 261,891 shares.
Shares of CVS Health Corp (NYSE: CVS) opened at $78.90, down -$0.06 from a prior closing price of $78.96. However, the script later moved the day high at 81.40, up 2.39%. The company’s stock has a 5-day price change of 2.65% and 16.01% over the past three months. CVS shares are trading 2.39% year to date (YTD), with the 12-month market performance down to -13.48% lower. It has a 12-month low price of $64.41 and touched a high of $93.45 over the same period. CVS has an average intraday trading volume of 7.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.54%, 13.41%, and 13.48% respectively.
Institutional ownership of CVS Health Corp (NYSE: CVS) shares accounts for 79.20% of the company’s 1.30B shares outstanding.
It has a market capitalization of $104.05B and a beta (3y monthly) value of 0.48. The stock’s trailing 12-month PE ratio is 12.20, while the earnings-per-share (ttm) stands at $6.63. The company has a PEG of 5.20 and a Quick Ratio of 0.64 with the debt-to-equity ratio at 1.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.34% over the week and 2.02% over the month.
Analysts forecast that CVS Health Corp (CVS) will achieve an EPS of $1.96 for the current quarter, $2.02 for the next quarter and $8.52 for 2024. The lowest estimate earnings-per-share for the quarter is $1.78 while analysts give the company a high EPS estimate of $2.03. Comparatively, EPS for the current quarter was $1.99 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.19%, and -0.43% over the next financial year. EPS should grow at an annualized rate of 2.35% over the next five years, compared to -13.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 28 brokerage firm advisors rate CVS Health Corp (CVS) as a “Strong Buy” at a consensus score of 1.50. Specifically, 20 Wall Street analysts polled rate the stock as a buy, while 6 of the 28 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CVS, a number of firms have released research notes about the stock. HSBC Securities stated their Buy rating for the stock in a research note on December 22, 2023, with the firm’s price target at $94.
