Insider Selling: Lotvin Alan, CVS Health Corporation [CVS] EVP&President-PharmacyServices divested 22,541 shares

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CVS Health Corporation shares valued at $2,344,264 were sold by Lotvin Alan on Aug 04. At $104.00 per share, Lotvin Alan sold 22,541 shares. The insider’s holdings dropped to 109,183 shares worth approximately $10.57 million following the completion of this transaction.


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Also, Lotvin Alan sold 120,899 shares, netting a total of over 11,848,102 in proceeds. Following the sale of shares at $98.00 each, the insider now holds 109,183 shares.

Before that, Finke Daniel P had sold 9,546 shares from its account. In a trade valued at $954,600, the EVP/Pres, Health Care Benefits traded CVS Health Corporation shares for $100.00 each. Upon closing the transaction, the insider’s holdings decreased to 9,546 shares, worth approximately $3.11 million.

As published in their initiating research note from Loop Capital on June 17, 2022, CVS Health Corporation [CVS] has been a Buy and the price target has been revised to $120. This represents a 19.33% premium over Wednesday’s closing price. Analysts at Bernstein downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in late May. As of March 29, 2022, Deutsche Bank has decreased its “Buy” rating to a “Hold” for CVS. Earlier on February 11, 2022, Raymond James downgraded its rating. Their new recommendation was “an Outperform” for CVS stock which previously was a “a Strong buy”.

Analyzing CVS Stock Performance

On Wednesday, CVS Health Corporation [NYSE: CVS] rose 2.30% to $96.80. The stock’s lowest price that day was $96.00, but it reached a high of $99.44 in the same session. During the last five days, there has been a surge of approximately 4.39%. Over the course of the year, CVS Health Corporation shares have dropped approximately -6.17%. Shares of the company reached a 52-week high of $111.25 on 02/08/22 and a 52-week low of $86.28 on 10/13/22. A 50-day SMA is recorded $96.80, while a 200-day SMA reached $99.43. Nevertheless, trading volume fell to 15.47 million shares from 7.01 million shares the previous day.

Support And Resistance Levels for CVS Health Corporation (CVS)

According to the 24-hour chart, there is a support level at 95.39, which, if violated, would cause prices to drop to 93.97. In the upper region, resistance lies at 98.83. The next price resistance is at 100.85. RSI (Relative Strength Index) is 57.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.50, which suggests the price will increase in the coming days. Percent R is at 25.61%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is CVS Health Corporation subject to short interest?

Stocks of CVS Health Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.12 million shares to 13.91 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 15.03 million shares. A decline of -8.05% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.94 of the overall float, the days-to-cover ratio (short ratio) decline to 2.94.

Which companies own the most shares of CVS Health Corporation (CVS)?

According to The Vanguard Group, Inc. filings, the company currently owns 108,724,271 shares, which is about 8.28% of the total CVS shares outstanding. The investor’s shares have appreciated by 2,198,170 from its previous 13-F filing of 106526101.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $5,724,495,174. Capital Research & Management Co acquire a 0.35% interest valued at $5.61 billion while SSgA Funds Management, Inc. sold a -576,994 stake. A total of -1,880,475 shares of CVS Health Corporation were sold by Capital Research & Management Co during the quarter, and 761,218 were bought by Geode Capital Management LLC. In its current portfolio, Morgan Stanley Smith Barney LLC holds 21,104,867 shares valued at $2.01 billion.

In terms of CVS Health Corporation share price expectations, FactSet research, analysts set an average price target of $117.17 in the next 12 months, up nearly 26.51% from the previous closing price of $94.62. Analysts anticipate CVS Health Corporation stock to reach $130.00 by 2022, with the lowest price target being $98.00. In spite of this, 24 analysts ranked CVS Health Corporation stock as an Overweight at the end of 2022. On December 14, 2021, Goldman assigned a price target of “a Buy” to the stock and initiated coverage with a $121.

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