CVS Health Corp [CVS] moved down -0.25: Why It’s Important

CVS Health Corp [NYSE: CVS] traded at a low on Monday, posting a -0.25 loss after which it closed the day’ session at $79.56. The company report on April 1, 2024 at 9:00 AM that CVS Health to hold first quarter 2024 earnings conference call.

CVS Health (NYSE: CVS) will hold a conference call with analysts and investors on Wednesday, May 1st, 2024, at 8:00 a.m. ET to discuss first quarter 2024 financial results.

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An audio webcast of the event will be broadcast simultaneously on the Investor Relations portion of the CVS Health website at investors.cvshealth.com where it will be archived for a period of one year.

The results of the trading session contributed to over 8771812 shares changing hands. Over the past one week, the price volatility of CVS Health Corp stands at 1.77% while the volatility over the past one month is 1.95%.

The market cap for CVS stock reached $100.12 billion, with 1.29 billion shares outstanding and 1.26 billion shares in the current float. Compared to the average trading volume of 11.18M shares, CVS reached a trading volume of 8771812 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 Corp [CVS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVS shares is $89.00 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 1.72. 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.

Barclays have made an estimate for CVS Health Corp shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on March 06, 2024. While these analysts kept the previous recommendation, Leerink Partners raised their target price to Outperform. The new note on the price target was released on February 26, 2024, representing the official price target for CVS Health Corp stock. Previously, the target price had yet another raise to $94, while HSBC Securities analysts kept a Buy rating on CVS stock. On September 19, 2023, analysts increased their price target for CVS shares from 81 to 83.

The Average True Range (ATR) for CVS Health Corp is set at 1.48, with the Price to Sales ratio for CVS stock in the period of the last 12 months amounting to 0.28. The Price to Book ratio for the last quarter was 1.34, 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 9.63 with Quick ratio for the last quarter at 0.63.

How has CVS stock performed recently?

CVS Health Corp [CVS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.38. With this latest performance, CVS shares gained by 6.98% in over the last four-week period, additionally plugging by 13.61% over the last 6 months – not to mention a rise of 7.38% 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 66.68, with the RSI for the last a single of trading hit 71.94, and the three-weeks RSI is set at 62.56 for CVS Health Corp [CVS]. The present Moving Average for the last 50 days of trading for this stock 75.83, while it was recorded at 79.41 for the last single week of trading, and 72.56 for the last 200 days.

CVS Health Corp [CVS]: Deeper insight into the 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.

Earnings analysis for CVS Health Corp [CVS]

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%.

Insider trade positions for CVS Health Corp [CVS]

The top three institutional holders of CVS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CVS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CVS stock with ownership which is approximately 5.8386%.