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 $53,879 were purchased by LUDWIG EDWARD J on May 02 ’24. At $53.88 per share, LUDWIG EDWARD J acquired 1,000 shares. The insider’s holdings grew to 21,630 shares worth approximately $1.22 million following the completion of this transaction.
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Also, Mahoney Michael F purchased 9,181 shares, netting a total of over 500,294 in proceeds. Following the buying of shares at $54.49 each, the insider now holds 9,356 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 $2.24 million.
As published in a research note from Barclays on October 10, 2024, CVS Health Corp [CVS] has been rated up from an Equal weight to an Overweight and the price target has been revised to $82 from $63. Analysts at TD Cowen upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early October. As of May 30, 2024, Robert W. Baird has initiated its “Neutral” rating for CVS. Earlier on May 07, 2024, TD Cowen downgraded its rating. Their new recommendation was “a Hold” for CVS stock which previously was a “a Buy”.
Analyzing CVS Stock Performance
During the last five days, there has been a drop of approximately -0.69%. Over the course of the year, CVS Health Corp shares have dropped approximately -28.58%. Shares of the company reached a 52-week high of $83.25 on 01/08/24 and a 52-week low of $52.77 on 05/29/24. A 50-day SMA is recorded $59.72, while a 200-day SMA reached $64.48. Nevertheless, trading volume fell to 8.64 million shares from 6.81 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 56.10, which, if violated, would cause prices to drop to 55.81. In the upper region, resistance lies at 56.74. The next price resistance is at 57.09. RSI (Relative Strength Index) is 35.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.51, which suggests the price will decrease in the coming days. Percent R is at 97.44%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
