Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. CVS Health Corp shares valued at $500,294 were purchased by Mahoney Michael F on May 02 ’24. At $54.49 per share, Mahoney Michael F acquired 9,181 shares. The insider’s holdings grew to 9,356 shares worth approximately $0.52 million following the completion of this transaction.
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Also, LUDWIG EDWARD J purchased 1,000 shares, netting a total of over 53,879 in proceeds. Following the buying of shares at $53.88 each, the insider now holds 21,630 shares.
Before that, Shah Prem S had sold 29,473 shares from its account. In a trade valued at $2,267,947, the EVP and Pres-Pharm, Consumer W traded CVS Health Corp shares for $76.95 each. Upon closing the transaction, the insider’s holdings decreased to 29,473 shares, worth approximately $2.21 million.
As published in a research note from TD Cowen on May 07, 2024, CVS Health Corp [CVS] has been rated down from a Buy to a Hold and the price target has been revised to $59 from $99. Analysts at UBS downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early May. As of May 01, 2024, Leerink Partners has decreased its “an Outperform” rating to a “Market perform” for CVS. Earlier on May 01, 2024, Cantor Fitzgerald downgraded its rating. Their new recommendation was “a Neutral” for CVS stock which previously was a “an Overweight”.
Analyzing CVS Stock Performance
During the last five days, there has been a drop of approximately -3.25%. Over the course of the year, CVS Health Corp shares have dropped approximately -29.52%. Shares of the company reached a 52-week high of $83.25 on 01/08/24 and a 52-week low of $53.70 on 05/02/24. A 50-day SMA is recorded $67.50, while a 200-day SMA reached $71.12. Nevertheless, trading volume fell to 18.26 million shares from 9.54 million shares the previous day.
Support And Resistance Levels for CVS Health Corp (CVS)
According to the 24-hour chart, there is a support level at 54.18, which, if violated, would cause prices to drop to 52.70. In the upper region, resistance lies at 58.43. The next price resistance is at 61.20. RSI (Relative Strength Index) is 27.01 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.38, which suggests the price will decrease in the coming days. Percent R is at 80.87%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
