In today’s recent session, 3.12 million shares of the CVS Health Corp (NYSE:CVS) have been traded, and its beta is 0.52. Most recently the company’s share price was $57.00, and it changed around $1.23 or 2.21% from the last close, which brings the market valuation of the company to $71.73B. CVS at last check was trading at a discount to its 52-week high of $83.25, offering almost -46.05% off that amount. The share price’s 52-week low was $52.71, which indicates that the recent value has risen by an impressive 7.53% since then. We note from CVS Health Corp’s average daily trading volume that its 10-day average is 15.64 million shares, with the 3-month average coming to 11.31 million.
CVS Health Corp stock received a consensus recommendation rating of Hold, based on a mean score of 1.86. If we narrow it down even further, the data shows that 0 out of 28 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 12 recommended CVS as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. CVS Health Corp is expected to report earnings per share of 1.12 for the current quarter.
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CVS Health Corp (NYSE:CVS) trade information
Instantly CVS has been showing a green trend so far today with a performance of 2.21% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 57.67 on recent trading dayincreased the stock’s daily price by 1.16%. The company’s shares are currently down -27.81% year-to-date, but still up 5.03% over the last five days. On the other hand, CVS Health Corp (NYSE:CVS) is 0.26% up in the 30-day period. We can see from the shorts that 21.85 million shares have been sold at a short interest cover period of 1.65 day(s).
The consensus price target as assigned by Wall Street analysts is $105, which translates to bulls needing to increase their stock price by 45.71% from its current value. Analyst projections state that CVS is forecast to be at a low of $63 and a high of $127.
CVS Health Corp (CVS) estimates and forecasts
CVS Health Corp 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 -0.77 percent over the past six months and at a -37.87% annual growth rate that is well above the industry average of -38.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -46.95% in revenue this quarter, and will report an increase of 0.27% in the next quarter. The year-over-year growth rate is expected to be 3.86%, up from the previous year.
Consensus estimates provided by 17 financial analysts predict the company will bring in an average of 97.13B in revenue for the current quarter. 10 analysts expect CVS Health Corp to make 93.3B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 93.81B and 88.44B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 3.53%. Forecasts for the next quarter put sales growth at 5.50%.
CVS Health Corp earnings are expected to increase by -37.10% in 2024, but the outlook is negative -2.54% per year for the next five years.
CVS Dividends
CVS Health Corp’s next quarterly earnings report is expected to be released in December. The annual dividend yield of the stock is 4.67 percent and its annual dividend per share was 2.66. It is important to note, however, that the 4.67% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.96 per year.
CVS Health Corp (NYSE:CVS)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.12% of CVS Health Corp shares, and 82.75% of them are in the hands of institutional investors. The stock currently has a share float of 82.85%. CVS Health Corp stock is held by 2382.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 9.2341% of the shares, which is about 116.35 million shares worth $6.87 billion.
BLACKROCK INC., with 7.9485% or 100.15 million shares worth $5.91 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 30, 2024. The former held 41.23 shares worth $2.35 billion, making up 3.28% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 39.66 shares worth around $2.26 billion, which represents about 3.15% of the total shares outstanding.
