In today’s recent session, 1.83 million shares of the CVS Health Corporation (NYSE:CVS) have been traded, and its beta is 0.84. Most recently the company’s share price was $105.81, and it changed around $1.52 or 1.46% from the last close, which brings the market valuation of the company to $138.36B. CVS at last check was trading at a discount to its 52-week high of $105.44, offering almost 0.35% off that amount. The share price’s 52-week low was $68.02, which indicates that the recent value has risen by an impressive 35.71% since then. We note from CVS Health Corporation’s average daily trading volume that its 10-day average is 3.74 million shares, with the 3-month average coming to 5.57 million.
CVS Health Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 28 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 7 recommended CVS as a Hold, whereas 18 deemed it a Buy, and 0 rated it as Underweight. CVS Health Corporation is expected to report earnings per share of $1.77 for the current quarter.
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Instantly CVS has been showing a green trend so far today with a performance of 1.46% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 106.39 on Tuesday, 01/04/22 increased the stock’s daily price by 0.55%. The company’s shares are currently up 1.10% year-to-date, but still up 1.48% over the last five days. On the other hand, CVS Health Corporation (NYSE:CVS) is 14.77% up in the 30-day period. We can see from the shorts that 14.82 million shares have been sold at a short interest cover period of 3.07 day(s).
The consensus price target as assigned by Wall Street analysts is $112.69, which translates to bulls needing to increase their stock price by 6.11% from its current value. Analyst projections state that CVS is forecast to be at a low of $98.00 and a high of $125.00. In order for the stock price to hit the forecast high, the stock would need to plunge -18.14% from its current level, while the stock would need to crash 7.38% from its current level to reach the projected low.
CVS Health Corporation (CVS) estimates and forecasts
CVS Health Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 28.21 percent over the past six months and at a 7.07% annual growth rate that is well below the industry average of 9.30%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 6.60% in revenue this quarter, and will report an increase of 21.50% in the next quarter. The year-over-year growth rate is expected to be 5.60%, up from the previous year.
Consensus estimates provided by 14 financial analysts predict the company will bring in an average of $70.34 billion in revenue for the current quarter. 14 analysts expect CVS Health Corporation to make $71.83 billion in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $66.66 billion and $69.55 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 5.50%. Forecasts for the next quarter put sales growth at 3.30%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.30%. CVS Health Corporation earnings are expected to increase by 7.60% in 2022, but the outlook is positive 5.71% per year for the next five years.
CVS Health Corporation’s next quarterly earnings report is expected to be released around February 14 and February 18. The annual dividend yield of the stock is 1.92 percent and its annual dividend per share was 2.00. It is important to note, however, that the 1.92% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.85 per year.
CVS Health Corporation (NYSE:CVS)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.17% of CVS Health Corporation shares, and 78.86% of them are in the hands of institutional investors. The stock currently has a share float of 78.99%. CVS Health Corporation stock is held by 2,573 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Jun 29, 2021, it held 8.15% of the shares, which is about 107.5 million shares worth $8.97 billion.
Blackrock Inc., with 7.31% or 96.49 million shares worth $8.05 billion as of Jun 29, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Washington Mutual Investors Fund were the top two Mutual Funds as of Jun 29, 2021. The former held 37.19 million shares worth $3.1 billion, making up 2.82% of all outstanding shares. On the other hand, Washington Mutual Investors Fund held roughly 33.84 million shares worth around $2.79 billion, which represents about 2.56% of the total shares outstanding.