CVS Health Co. (NYSE:CVS) Sees Large Growth in Short Interest

CVS Health Co. (NYSE:CVS) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 20,640,000 shares, a growth of 16.5% from the May 31st total of 17,710,000 shares. Based on an average daily volume of 12,590,000 shares, the short-interest ratio is presently 1.6 days. Approximately 1.7% of the company’s shares are short sold.

CVS Health Trading Up 1.2 %

CVS Health stock opened at $59.06 on Monday. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a market cap of $74.14 billion, a P/E ratio of 10.38, a PEG ratio of 0.56 and a beta of 0.53. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The firm’s 50-day moving average is $59.56 and its 200-day moving average is $70.13.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the business earned $2.20 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that CVS Health will post 7.02 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CVS. Piper Sandler lifted their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and lowered their price target for the company from $99.00 to $59.00 in a report on Tuesday, May 7th. Wells Fargo & Company decreased their target price on CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 7th. Argus reduced their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. decreased their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.05.

Insider Buying and Selling

In related news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

Institutional Trading of CVS Health

A number of hedge funds and other institutional investors have recently made changes to their positions in CVS. SOA Wealth Advisors LLC. increased its stake in CVS Health by 4.9% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 133 shares in the last quarter. Apella Capital LLC raised its holdings in shares of CVS Health by 4.2% during the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after acquiring an additional 136 shares during the period. Prairie Sky Financial Group LLC lifted its position in shares of CVS Health by 4.1% in the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after acquiring an additional 141 shares in the last quarter. WealthShield Partners LLC boosted its stake in CVS Health by 3.2% in the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after purchasing an additional 141 shares during the period. Finally, Sugarloaf Wealth Management LLC grew its position in CVS Health by 9.5% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock worth $129,000 after purchasing an additional 142 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.