In a filing, CVS Health Corp revealed its EVP and Pres-Pharm, Consumer W Shah Prem S unloaded Company’s shares for reported $2.27 million on Feb 16 ’24. In the deal valued at $76.95 per share,29,473 shares were sold. As a result of this transaction, Shah Prem S now holds 39,765 shares worth roughly $2.96 million.
Then, LUDWIG EDWARD J bought 2,000 shares, generating $140,930 in total proceeds. Upon buying the shares at $70.47, the Director now owns 20,630 shares.
Before that, Clark James David sold 25,759 shares. CVS Health Corp shares valued at $1,930,004 were divested by the SVP, Cont & Chief Acct Officer at a price of $74.92 per share. As a result of the transaction, Clark James David now holds 4,698 shares, worth roughly $0.35 million.
Barclays initiated its CVS Health Corp [CVS] rating to an Equal weight in a research note published on March 06, 2024; the price target was $78. A number of analysts have revised their coverage, including Leerink Partners’s analysts, who began to cover the stock in late February with a ‘”an Outperform”‘ rating. HSBC Securities began covering CVS with “Buy” recommendation on December 22, 2023. Evercore ISI revised its rating on September 19, 2023. It rated CVS as “an Outperform” which previously was an “an In-line”.
Price Performance Review of CVS
On Monday, CVS Health Corp [NYSE:CVS] saw its stock fall -0.19% to $74.44. Over the last five days, the stock has lost -6.44%. CVS Health Corp shares have fallen nearly -5.72% since the year began. Nevertheless, the stocks have fallen -4.26% over the past one year. While a 52-week high of $83.25 was reached on 01/08/24, a 52-week low of $64.41 was recorded on 01/25/24. SMA at 50 days reached $75.89, while 200 days put it at $72.71. A total of 6.5 million shares were traded, compared to the trading of 1.62 million shares in the previous session.
Levels Of Support And Resistance For CVS Stock
The 24-hour chart illustrates a support level at 73.93, which if violated will result in even more drops to 73.43. On the upside, there is a resistance level at 74.85. A further resistance level may holdings at 75.26. The Relative Strength Index (RSI) on the 14-day chart is 40.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.99, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.79%. Stochastics %K at 26.70% 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 Mar 15, 2024, dropping by -12.12 million shares to a total of 18.64 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 30.76 million shares. There was a decline of -65.02%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.48% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.07.
