Jefferies took its CVS Health [CVS] rating to the equivalent of Buy from Hold, and the price target to $90.0, in a research note dated 2021-01-08. That figure represents around a 21.62% premium from where the company’s shares closed on Thursday. Some new analysts also started their coverage, with Piper Sandler’s analysts assigning the shares to “an Overweight” rating in a research note to investors issued in mid September. Meanwhile, SVB Leerink had launched its coverage on CVS with “Mkt perform”, in a research note produced for clients July 01, 2020. In addition, there was an upgrade from Credit Suisse on May 14, 2020. The rater changed CVS from “a Neutral” to “an Outperform”.
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Is CVS Health Corporation [NYSE:CVS] a Good Buy Right Now?
It should be noted that CVS technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 80% Buy in the last week and compares with 88% Buy in the past month. Data from CVS Health Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 6.92 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 9.1 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 8.38 million shares.
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CVS Price Performance
On Wall Street, CVS Health Corporation [NYSE:CVS] finished Thursday’s session up 1.97% at $73.99. The stock went up to $74.42 at the same session while its lowest single day price was $72.2801. In the last five days, it saw a rise of about 9.21%, CVS Health Corporation shares gained by almost 8.33% since the beginning of the year. However, the share price has dropped to as low as -3.21% below its one year high. On 01/07/21, the company shares recorded $74.42, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $68.13. The company’s shares have inclined by 1.83% in the past year. The 50-day SMA achieved is $67.69 while the 200-day SMA is $63.44. Volume dropped to 7.96 million from 10.14 million in the previous session.
CVS Health Corporation [CVS] Valuation Measures
Notably, CVS Health Corporation [CVS] stock can be classified as a good candidate in the listing of underestimated low-priced Healthcare Plans companies to purchase soonest possible with the prevailing 12-month PE ratio of 12.21. The measure means the stock is exchanging at a discount as compared to the 18.73x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.36 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 0.80 which means CVS serve an attractive investment opportunity compared to its competitors.
CVS Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 72.71 level, and in case of violation of this particular level, it will cause more drop to 71.42 level. On the upper level, 75.70 is still the key resistance. The stock may increase to the subsequent resistance at 74.85. The Relative Strength Index (RSI) pinned on the 14-day chart is 69.37, implying a neutral technical stance while the MACD stands at 3.05, meaning price will increase in the next trading period. Percent R indicator moved to 5.84%, implying bullish price movement. Stochastic %K at 90.71% suggest selling the stock.
What is the short interest in CVS Health Corporation?
Short interest in the CVS Health Corporation stock has surged, increasing by 1.49 million shares to total 15.44 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 16.93 million, data from Yahoo Finance shows. The decrease of -9.65% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.18% of the overall float for the stock.
CVS Health Corporation’s Biggest Shareholders: Who Owns CVS Health Corporation [CVS]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 100,279,683 shares or roughly 7.66% of the outstanding CVS shares. This means their shares have reduced by -700,510 from the 100,279,683 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $4,078,304,767. Details in the latest 13F filings reveal that SSgA Funds Management, Inc. disposed off their -0.89% stake valued at $3,829,582,783 while Capital Research & Management Co added theirs at $2,244,923,200. During the last quarter, SSgA Funds Management, Inc. liquidated -506,806 of its shares in CVS Health Corporation while Capital Research & Management Co bought 6,560,718 shares. The Geode Capital Management LLC’s holdings currently number 19,753,279 shares at $1461545113.21. According to the firm’s last 13F report, Fidelity Management & Research Co shares in the company at filing stood at 19,134,815 shares, roughly $1,297,149,109.
CVS Earnings Forecast For The Current Quarter
CVS Health Corporation [CVS] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $68.61B and an earnings per share of $1.23 for Dec 2020. Looking further ahead, the company is expected to report revenue of $68.26B at an EPS of $1.82 for Mar 2021. The estimates represent upside of 3.80% and 1.39% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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CVS Earnings Estimates For The Current Year
For the financial year, CVS Health Corporation [NYSE:CVS] is expected to bring in revenue of $267.9B. The returns are nearly $11.12 billion higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 7.44, higher than that of FY19 by $0.36. Estimates put this year’s earnings growth at 5.10%, 1.20% for the next, and at an annual 4.60% over the next 5-year period. As for sales, forecasts are for an increase of 4.30% in the current fiscal year and a further 3.80% over the following year.
