CVS Health Corp [CVS] moved down -0.21: Why It’s Important

CVS Health Corp [NYSE: CVS] stock went on a downward path that fall over -0.21% on Tuesday, amounting to a one-week price decrease of less than -0.05%. The company report on February 21, 2024 at 8:45 PM that CVS Health invests nearly $35 million in affordable housing in Hawai’i.

The investments are one of many initiatives ranging from retail to workforce and philanthropy that exemplify the company’s longstanding commitment to the people of Hawai’i.

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CVS Health® (NYSE: CVS) today announced its contribution of nearly $35 million in equity investments towards the creation of two new affordable housing developments in Hawai’i. Located in Lahaina, Maui and Kapolei, Oahu, the communities will also offer residents supportive social and educational programs tailored to address their specific needs. In addition to other multiple funding partners, these investments support the state of Hawai’i’s priorities in early childcare and affordable housing and exemplify the power of public and private collaborations.

Over the last 12 months, CVS stock dropped by -11.08%. The one-year CVS Health Corp stock forecast points to a potential upside of 13.95. The average equity rating for CVS stock is currently 1.64, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $95.98 billion, with 1.29 billion shares outstanding and 1.26 billion shares in the current float. Compared to the average trading volume of 11.16M shares, CVS stock reached a trading volume of 5241584 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on CVS Health Corp [CVS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVS shares is $88.63 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 1.64. 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.

Leerink Partners have made an estimate for CVS Health Corp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 26, 2024. While these analysts kept the previous recommendation, HSBC Securities raised their target price to Buy. The new note on the price target was released on December 22, 2023, representing the official price target for CVS Health Corp stock. Previously, the target price had yet another raise from $81 to $83, while Evercore ISI kept a Outperform rating on CVS stock.

The Average True Range (ATR) for CVS Health Corp is set at 1.52, with the Price to Sales ratio for CVS stock in the period of the last 12 months amounting to 0.27. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 9.17. Price to Free Cash Flow for CVS in the course of the last twelve months was 9.23 with Quick ratio for the last quarter at 0.63.

CVS Stock Performance Analysis:

CVS Health Corp [CVS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.05. With this latest performance, CVS shares gained by 4.48% in over the last four-week period, additionally plugging by 13.29% over the last 6 months – not to mention a drop of -11.08% 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 51.59, with the RSI for the last a single of trading hit 50.56, and the three-weeks RSI is set at 52.03 for CVS Health Corp [CVS]. The present Moving Average for the last 50 days of trading for this stock 76.53, while it was recorded at 76.83 for the last single week of trading, and 71.74 for the last 200 days.

Insight into CVS Health Corp Fundamentals:

CVS Health Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.63 and a Current Ratio set at 0.86.

CVS Stock EPS

With the latest financial reports released by the company, CVS Health Corp posted 2.2/share EPS, while the average EPS was predicted by analysts to be reported at 2.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.30%. 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 Corp go to 3.69%.

CVS Health Corp [CVS] Institutonal Ownership Details

The top three institutional holders of CVS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CVS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CVS stock with ownership which is approximately 5.8325%.