Market Analysts see CVS Health Corporation [CVS] falling to $100. Time to buy?

CVS Health Corporation [NYSE: CVS] traded at a low on 02/27/23, posting a -1.08 loss after which it closed the day’ session at $84.84. The company report on February 8, 2023 that CVS HEALTH REPORTS STRONG FOURTH QUARTER AND FULL-YEAR 2022 RESULTS.

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CVS Health Corporation (NYSE: CVS) today announced operating results for the three months and year ended December 31, 2022.

The results of the trading session contributed to over 7391461 shares changing hands. Over the past one week, the price volatility of CVS Health Corporation stands at 1.44% while the volatility over the past one month is 1.63%.

The market cap for CVS stock reached $110.34 billion, with 1.31 billion shares outstanding and 1.28 billion shares in the current float. Compared to the average trading volume of 7.90M shares, CVS reached a trading volume of 7391461 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about CVS Health Corporation [CVS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVS shares is $113.52 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CVS stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for CVS Health Corporation shares, keeping their opinion on the stock as In-line, with their previous recommendation back on January 03, 2023. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $124 to $119. The new note on the price target was released on November 23, 2022, representing the official price target for CVS Health Corporation stock. Previously, the target price had yet another raise to $120, while Loop Capital analysts kept a Buy rating on CVS stock. On May 27, 2022, analysts decreased their price target for CVS shares from 122 to 112.

The Average True Range (ATR) for CVS Health Corporation is set at 1.50, with the Price to Sales ratio for CVS stock in the period of the last 12 months amounting to 0.34. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 12.09. Price to Free Cash Flow for CVS in the course of the last twelve months was 10.47 with Quick ratio for the last quarter at 0.70.

How has CVS stock performed recently?

CVS Health Corporation [CVS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.22. With this latest performance, CVS shares dropped by -3.22% in over the last four-week period, additionally sinking by -16.95% over the last 6 months – not to mention a drop of -15.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CVS stock in for the last two-week period is set at 33.92, with the RSI for the last a single of trading hit 28.85, and the three-weeks RSI is set at 36.26 for CVS Health Corporation [CVS]. The present Moving Average for the last 50 days of trading for this stock 89.84, while it was recorded at 86.46 for the last single week of trading, and 95.39 for the last 200 days.

CVS Health Corporation [CVS]: Deeper insight into the fundamentals

CVS Health Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.90.

Earnings analysis for CVS Health Corporation [CVS]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CVS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CVS Health Corporation go to 5.71%.

Insider trade positions for CVS Health Corporation [CVS]

There are presently around $88,154 million, or 80.70% of CVS stock, in the hands of institutional investors. The top three institutional holders of CVS stocks are: VANGUARD GROUP INC with ownership of 117,533,372, which is approximately 1.379% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 94,974,082 shares of the stock with an approximate value of $8.06 billion in CVS stocks shares; and STATE STREET CORP, currently with $4.91 billion in CVS stock with ownership of nearly -0.798% of the company’s market capitalization.

1,183 institutional holders increased their position in CVS Health Corporation [NYSE:CVS] by around 44,108,611 shares. Additionally, 1,127 investors decreased positions by around 42,772,665 shares, while 230 investors held positions by with 952,179,913 shares. The mentioned changes placed institutional holdings at 1,039,061,189 shares, according to the latest SEC report filing. CVS stock had 216 new institutional investments in for a total of 5,554,944 shares, while 118 institutional investors sold positions of 3,145,437 shares during the same period.


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