Taking a Closer Look At CVS Health Corporation (CVS) Following Its Recent Trade


In a filing, CVS Health Corporation revealed its EVP&President-PharmacyServices Lotvin Alan unloaded Company’s shares for reported $2.34 million on Aug 04. In the deal valued at $104.00 per share,22,541 shares were sold. As a result of this transaction, Lotvin Alan now holds 109,183 shares worth roughly $ 10.87 million.

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Then, Lotvin Alan sold 120,899 shares, generating $11,848,102 in total proceeds. Upon selling the shares at $98.00, the EVP&President-PharmacyServices now owns 109,183 shares.

Before that, Finke Daniel P sold 9,546 shares. CVS Health Corporation shares valued at $954,600 were divested by the EVP/Pres, Health Care Benefits at a price of $100.00 per share. As a result of the transaction, Finke Daniel P now holds 32,150 shares, worth roughly $3.2 million.

Loop Capital initiated its CVS Health Corporation [CVS] rating to a Buy in a research note published on Friday, June 17, 2022; the price target was $120. PT values the company’s stock at a premium of 17.03 to its Friday closing price. A number of analysts have revised their coverage, including Bernstein’s analysts, who decreased its forecast for the stock in late May from “an Outperform” to “a Mkt perform”. Deutsche Bank also remained covering CVS and has decreased its forecast on March 29, 2022 with a “Hold” recommendation from previously “Buy” rating. Raymond James revised its rating on February 11, 2022. It rated CVS as “an Outperform” which previously was an “a Strong buy”.

Price Performance Review of CVS

On Friday, CVS Health Corporation [NYSE:CVS] saw its stock jump 1.80% to $99.56. On the same session, the stock had its day’s lowest price of $97.775, but rose to a high of $99.85. Over the last five days, the stock has gained 5.70%. CVS Health Corporation shares have fallen nearly -3.49% since the year began. Nevertheless, the stocks have risen 5.37% over the past one year. While a 52-week high of $111.25 was reached on 02/08/22, a 52-week low of $86.28 was recorded on 10/13/22. SMA at 50 days reached $96.68, while 200 days put it at $99.39. A total of 9.37 million shares were traded, compared to the trading of 8.41 million shares in the previous session.

Levels Of Support And Resistance For CVS Stock

The 24-hour chart illustrates a support level at 98.27, which if violated will result in even more drops to 96.99. On the upside, there is a resistance level at 100.35. A further resistance level may holdings at 101.14. The Relative Strength Index (RSI) on the 14-day chart is 63.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.95, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.96%. Stochastics %K at 84.89% indicates the stock is a selling.

How much short interest is there in CVS Health Corporation?

A steep rise in short interest was recorded in CVS Health Corporation stocks on Jul 14, 2022, dropping by -1.12 million shares to a total of 13.91 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 15.03 million shares. There was a decline of -8.05%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.06% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.94.

CVS Health Corporation [CVS] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 108,724,271 shares, or roughly 8.28% of the outstanding CVS shares. In other words, the investor’s shares have risen by 2,198,170 from its previous 13-F filing of 106526101.0. Additionally, BlackRock Fund Advisors increased 2.77% of its stake after which the total value it holdings stand at $5,724,495,174, while Capital Research & Management Co added 0.35% of its stake to hold $5.61 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -576,994 shares of CVS Health Corporation, while Capital Research & Management Co sold -1,880,475 shares. At present, Geode Capital Management LLC is holding 23,188,133 shares valued at $2.21 billion. Morgan Stanley Smith Barney LLC owned 21,104,867 shares of the company at the time of its most recent 13F filing, worth $2.01 billion.

According to FactSet, CVS Health Corporation’s share price will average $116.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.65 percent from its previous closing price of $97.80. Analysts expect CVS Health Corporation stock to reach the higher price of $130.00, while the lowest price estimate is $98.00. However, 24 analysts have rated CVS stock as an Overweight in their predictions for 2022. The most recent change occurred on December 14, 2021 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $121 price target.


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