Analysts review CVS Health Corp’s rating

CVS Health Corp’s filing revealed that its Director LUDWIG EDWARD J acquired Company’s shares for reported $0.14 million on Nov 03. In the deal valued at $70.47 per share,2,000 shares were bought. As a result of this transaction, LUDWIG EDWARD J now holds 20,630 shares worth roughly $1.57 million.

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Then, Clark James David sold 25,759 shares, generating $1,930,004 in total proceeds. Upon selling the shares at $74.92, the SVP, Cont & Chief Acct Officer now owns 4,698 shares.

Before that, Lynch Karen S bought 14,000 shares. CVS Health Corp shares valued at $976,567 were divested by the President and CEO at a price of $69.75 per share. As a result of the transaction, Lynch Karen S now holds 431,392 shares, worth roughly $32.92 million.

HSBC Securities initiated its CVS Health Corp [CVS] rating to a Buy in a research note published on December 22, 2023; the price target was $94.

Price Performance Review of CVS

On Friday, CVS Health Corp [NYSE:CVS] saw its stock jump 1.65% to $76.32. Over the last five days, the stock has gained 4.42%. CVS Health Corp shares have fallen nearly -3.34% since the year began. Nevertheless, the stocks have fallen -14.21% over the past one year. While a 52-week high of $90.62 was reached on 01/08/24, a 52-week low of $64.41 was recorded on 01/25/24. SMA at 50 days reached $75.40, while 200 days put it at $71.44. A total of 9.0 million shares were traded, compared to the trading of 12.12 million shares in the previous session.

Levels Of Support And Resistance For CVS Stock

The 24-hour chart illustrates a support level at 75.07, which if violated will result in even more drops to 73.82. On the upside, there is a resistance level at 76.96. A further resistance level may holdings at 77.60. The Relative Strength Index (RSI) on the 14-day chart is 54.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.77, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.98%. Stochastics %K at 78.04% indicates the stock is a holding.

How much short interest is there in CVS Health Corp?

A steep rise in short interest was recorded in CVS Health Corp stocks on Jan 31, 2024, growing by 20.34 million shares to a total of 36.79 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 16.45 million shares. There was a rise of 55.29%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.93% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.58.

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