In the last trading session, 9.06 million CVS Health Corporation (NYSE:CVS) shares changed hands as the company’s beta touched 0.60. With the company’s per share price at $70.70 changed hands at -$0.17 or -0.24% during last session, the market valuation stood at $89.63B. CVS’s last price was a discount, traded about -48.27% off its 52-week high of $104.83. The share price had its 52-week low at $64.62, which suggests the last value was 8.6% up since then. When we look at CVS Health Corporation’s average trading volume, we note the 10-day average is 9.67 million shares, with the 3-month average coming to 9.46 million.
Analysts gave the CVS Health Corporation (CVS) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 27 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 7 recommended CVS as a Hold, 18 felt it is a Buy and 0 rated the stock as Underweight. CVS Health Corporation’s EPS for the current quarter is expected to be $2.14.
CVS Health Corporation (NYSE:CVS) trade information
Instantly CVS was in red as seen at the end of in last trading. With action 2.84%, the performance over the past five days has been green. The drop to weekly highs of 71.48 on Monday, 09/18/23 subtracted -0.24% to the stock’s daily price. The company’s shares are showing year-to-date downside of -24.13%, with the 5-day performance at 2.84% in the green. However, in the 30-day time frame, CVS Health Corporation (NYSE:CVS) is 5.84% up. Looking at the short shares, we see there were 15.87 million shares sold at short interest cover period of 1.62 days.
The consensus price target for the stock as assigned by Wall Street analysts is $91.06, meaning bulls need an upside of 22.36% from its current market value. According to analyst projections, CVS’s forecast low is $76.00 with $110.00 as the target high. To hit the forecast high, the stock’s price needs a -55.59% plunge from its current level, while the stock would need to soar -7.5% for it to hit the projected low.
CVS Health Corporation (CVS) estimates and forecasts
Data shows that the CVS Health Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -4.93% over the past 6 months, a -0.81% in annual growth rate that is considerably higher than the industry average of -25.70%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for CVS Health Corporation will rise 2.40%, while the growth in revenue is estimated to hit 3.00% for the next quarter. Year-over-year growth is forecast to reach 9.10% up from the last financial year.
Consensus estimates given by 16 financial analysts project the company’s revenue in the current quarter to hit an average of $88.29 billion. 16 analysts are of the opinion that CVS Health Corporation’s revenue for the quarter ending Dec 2023 will be $90.39 billion. The company’s revenue for the corresponding quarters a year ago was $81.16 billion and $83.85 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 8.80%. The estimates for the next quarter sales put growth at 7.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -8.90%. The 2023 estimates are for CVS Health Corporation earnings to decrease by -47.30%, but the outlook for the next 5-year period is at 4.39% per year.
CVS Health Corporation is expected to release its next quarterly earnings report between October 31 and November 06. The 3.42% annual yield figure for the share gives it an annual dividend of 2.42. It is important to note, however, that the 3.42% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
CVS Health Corporation (NYSE:CVS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.18% of CVS Health Corporation shares while 79.85% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 80.00%. There are 79.85% institutions holding the CVS Health Corporation stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.08% of the shares, roughly 116.68 million CVS shares worth $8.25 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.30% or 93.73 million shares worth $6.63 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 39.97 million shares estimated at $2.83 billion under it, the former controlled 3.11% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.38% of the shares, roughly 30.52 million shares worth around $2.16 billion.