In the last trading session, 9.37 million CVS Health Corp (NYSE:CVS) shares changed hands as the company’s beta touched 0.51. With the company’s per share price at $79.32 changed hands at $0.34 or 0.43% during last session, the market valuation stood at $99.82B. CVS’s last price was a discount, traded about -4.95% off its 52-week high of $83.25. The share price had its 52-week low at $64.41, which suggests the last value was 18.8% up since then. When we look at CVS Health Corp’s average trading volume, we note the 10-day average is 8.89 million shares, with the 3-month average coming to 10.90 million.
CVS Health Corp (NYSE:CVS) trade information
Instantly CVS was in green as seen at the end of in last trading. With action 1.61%, the performance over the past five days has been green. The jump to weekly highs of 79.83 added 0.43% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.46%, with the 5-day performance at 1.61% in the green. However, in the 30-day time frame, CVS Health Corp (NYSE:CVS) is 3.78% up. Looking at the short shares, we see there were 24.17 million shares sold at short interest cover period of 2.34 days.
CVS Health Corp (CVS) estimates and forecasts
Data shows that the CVS Health Corp 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 9.30% over the past 6 months, a -4.69% in annual growth rate that is considerably higher than the industry average of -13.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for CVS Health Corp will fall -22.30%, while the growth in revenue is estimated to hit 0.50% for the next quarter. Year-over-year growth is forecast to reach 3.60% up from the last financial year.
Consensus estimates given by 17 financial analysts project the company’s revenue in the current quarter to hit an average of $89.24 billion. 17 analysts are of the opinion that CVS Health Corp’s revenue for the quarter ending Jun 2024 will be $92.21 billion. The company’s revenue for the corresponding quarters a year ago was $80.81 billion and $88.92 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 10.40%. The estimates for the next quarter sales put growth at 3.70%.
The 2024 estimates are for CVS Health Corp earnings to decrease by -5.07%, but the outlook for the next 5-year period is at 3.69% per year.
CVS Dividends
CVS Health Corp is expected to release its next quarterly earnings report between May 01 and May 06. The 3.13% annual yield figure for the share gives it an annual dividend of 2.48. It is important to note, however, that the 3.13% 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 Corp (NYSE:CVS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.15% of CVS Health Corp shares while 83.09% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.21%. There are 83.09% institutions holding the CVS Health Corp 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 $8.07 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.30% or 93.73 million shares worth $6.48 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 $2.76 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 $2.11 billion.
