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CVS Health Corporation (NYSE: CVS) Could Post Excellent Profits?

In the last trading session, 6.67 million shares of the CVS Health Corporation (NYSE:CVS) were traded, and its beta was 0.61. Most recently the company’s share price was $69.67, and it changed around $0.25 or 0.36% from the last close, which brings the market valuation of the company to $89.23B. CVS currently trades at a discount to its 52-week high of $107.26, offering almost -53.95% off that amount. The share price’s 52-week low was $67.05, which indicates that the current value has risen by an impressive 3.76% since then. We note from CVS Health Corporation’s average daily trading volume that its 10-day average is 7.84 million shares, with the 3-month average coming to 8.50 million.

CVS Health Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 0 out of 25 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 8 recommended CVS as a Hold, whereas 15 deemed it a Buy, and 0 rated it as Underweight. CVS Health Corporation is expected to report earnings per share of $2.14 for the current quarter.

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CVS Health Corporation (NYSE:CVS) trade information

Instantly CVS has showed a green trend with a performance of 0.36% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 69.98 on Tuesday, 05/23/23 increased the stock’s daily price by 0.44%. The company’s shares are currently down -25.24% year-to-date, but still up 3.83% over the last five days. On the other hand, CVS Health Corporation (NYSE:CVS) is -5.13% up in the 30-day period. We can see from the shorts that 16.89 million shares have been sold at a short interest cover period of 2.02 day(s).

The consensus price target as assigned by Wall Street analysts is $99.80, which translates to bulls needing to increase their stock price by 30.19% from its current value. Analyst projections state that CVS is forecast to be at a low of $76.00 and a high of $143.00. In order for the stock price to hit the forecast high, the stock would need to plunge -105.25% from its current level, while the stock would need to crash -9.09% from its current level to reach the projected low.

CVS Health Corporation (CVS) estimates and forecasts

CVS Health Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -28.43 percent over the past six months and at a -0.46% annual growth rate that is well above the industry average of -23.90%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -10.80% in revenue this quarter, and will report an increase of 5.30% in the next quarter. The year-over-year growth rate is expected to be 7.80%, up from the previous year.

Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $85.99 billion in revenue for the current quarter. 16 analysts expect CVS Health Corporation to make $87.09 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $80.64 billion and $81.16 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 6.60%. Forecasts for the next quarter put sales growth at 7.30%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -8.90%. CVS Health Corporation earnings are expected to increase by -47.30% in 2023, but the outlook is positive 4.00% per year for the next five years.

CVS Dividends

CVS Health Corporation’s next quarterly earnings report is expected to be released around August 01 and August 07. The annual dividend yield of the stock is 3.47 percent and its annual dividend per share was 2.42. It is important to note, however, that the 3.47% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 0.18% of CVS Health Corporation shares, and 82.56% of them are in the hands of institutional investors. The stock currently has a share float of 82.71%. CVS Health Corporation stock is held by 2,944 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 9.07% of the shares, which is about 116.32 million shares worth $8.64 billion.

Blackrock Inc., with 7.29% or 93.47 million shares worth $6.95 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 39.94 million shares worth $3.72 billion, making up 3.12% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 30.38 million shares worth around $2.83 billion, which represents about 2.37% of the total shares outstanding.

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