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Why Should You Consider Adding CVS Health Corporation (CVS) To Your Portfolio?

CVS Health Corporation (NYSE:CVS) has a beta value of 0.68 and has seen 3.2 million shares traded in the recent trading session. The company, currently valued at $115.21B, closed the recent trade at $86.39 per share which meant it lost -$0.81 on the day or -0.93% during that session. The CVS stock price is -28.78% off its 52-week high price of $111.25 and 0.13% above the 52-week low of $86.28. If we look at the company’s 10-day average daily trading volume, we find that it stood at 11.31 million shares traded. The 3-month trading volume is 7.05 million shares.

The consensus among analysts is that CVS Health Corporation (CVS) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 4 rate it as Overweight. 7 out of 24 have rated it as a Hold, with 13 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $1.99.

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CVS Health Corporation (NYSE:CVS) trade information

Sporting -0.93% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the CVS stock price touched $86.39 or saw a rise of 3.74%. Year-to-date, CVS Health Corporation shares have moved -6.43%, while the 5-day performance has seen it change -3.02%. Over the past 30 days, the shares of CVS Health Corporation (NYSE:CVS) have changed -8.21%. Short interest in the company has seen 12.52 million shares shorted with days to cover at 2.18.

Wall Street analysts have a consensus price target for the stock at $114.08, which means that the shares’ value could jump 24.27% from the levels at last check today. The projected low price target is $92.55 while the price target rests at a high of $130.00. In that case, then, we find that the latest price level in today’s session is -50.48% off the targeted high while a plunge would see the stock gain -7.13% from the levels at last check today.

CVS Health Corporation (CVS) estimates and forecasts

Figures show that CVS Health Corporation shares have outperformed across the wider relevant industry. The company’s shares have lost -7.29% over the past 6 months, with this year growth rate of 2.62%, compared to -22.30% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 1.00% and -2.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 6.90%.

17 analysts offering their estimates for the company have set an average revenue estimate of $76.75 billion for the current quarter. 17 have an estimated revenue figure of $78.09 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $73.79 billion and $76.6 billion respectively for this quarter and the next, and analysts expect sales will grow by 4.00% for the current quarter and 1.90% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 3.90% over the past 5 years. Earnings growth for 2023 is a modest 8.80% while over the next 5 years, the company’s earnings are expected to increase by 5.41%.

CVS Dividends

CVS Health Corporation is expected to release its next earnings report between February 07 and February 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 2.42 at a share yield of 2.78%. The company’s dividend yield has gone up over the past 12 months.

CVS Health Corporation (NYSE:CVS)’s Major holders

Insiders own 0.38% of the company shares, while shares held by institutions stand at 79.99% with a share float percentage of 80.29%. Investors are also buoyed by the number of investors in a company, with CVS Health Corporation having a total of 2,880 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 114.21 million shares worth more than $10.58 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 8.70% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 94.48 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $8.75 billion and represent 7.20% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Washington Mutual Investors Fund. As of Jun 29, 2022, the former fund manager holds about 2.94% shares in the company for having 38.62 million shares of worth $3.58 billion while later fund manager owns 33.2 million shares of worth $3.17 billion as of Sep 29, 2022, which makes it owner of about 2.53% of company’s outstanding stock.

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