The stock of CVS Health Corp (NYSE:CVS) hit a new 52-week low and has $75.62 target or 8.00% below today’s $82.20 share price. The 9 months bearish chart indicates high risk for the $87.64 billion company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $75.62 price target is reached, the company will be worth $7.01B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 7.10 million shares traded hands or 14.33% up from the average. CVS Health Corp (NYSE:CVS) has declined 19.91% since April 1, 2016 and is downtrending. It has underperformed by 21.12% the S&P500.
Analysts await CVS Health Corp (NYSE:CVS) to report earnings on November, 4. They expect $1.57 earnings per share, up 22.66% or $0.29 from last year’s $1.28 per share. CVS’s profit will be $1.67B for 13.09 P/E if the $1.57 EPS becomes a reality. After $1.32 actual earnings per share reported by CVS Health Corp for the previous quarter, Wall Street now forecasts 18.94% EPS growth.
CVS Health Corp (NYSE:CVS) Ratings Coverage
Out of 15 analysts covering CVS Health (NYSE:CVS), 11 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 73% are positive. CVS Health has been the topic of 22 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Argus Research given on Monday, August 10. On Friday, August 28 the stock rating was maintained by Oppenheimer with “Outperform”. As per Thursday, August 20, the company rating was maintained by Deutsche Bank. The firm has “Overweight” rating given on Friday, December 18 by Barclays Capital. Robert W. Baird initiated it with “Outperform” rating and $108 target price in Friday, January 22 report. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, August 5 report. As per Thursday, March 10, the company rating was reinitiated by Barclays Capital. S&P Research maintained it with “Strong Buy” rating and $112 target price in Monday, November 2 report. The firm earned “Buy” rating on Thursday, May 12 by Jefferies. The firm has “Buy” rating by UBS given on Thursday, October 6.
According to Zacks Investment Research, “CVS Health Corporation is a pharmacy innovation company. Its offerings include pharmacy benefit management services, mail order, retail and specialty pharmacy, disease management programs, and retail clinics. The Company serves employers, insurance companies, unions, government employee groups, managed care organizations and other sponsors of health benefit plans, and individuals under the CVS Caremark Pharmacy Services, Caremark, CVS Caremark, CarePlus CVS/pharmacy, RxAmerica, Accordant, SilverScript, and Novologix names. CVS Health Corporation, formerly known as CVS Caremark Corporation, is headquartered in Woonsocket, Rhode Island.”
Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.10, from 1.1 in 2016Q1. The ratio dived, as 67 funds sold all CVS Health Corp shares owned while 574 reduced positions. 97 funds bought stakes while 544 increased positions. They now own 833.68 million shares or 6.91% less from 895.55 million shares in 2016Q1.
Intersect Capital has 0.22% invested in the company for 3,789 shares. Moreover, Douglass Winthrop Advisors Limited Liability Corporation has 0.17% invested in CVS Health Corp (NYSE:CVS) for 22,540 shares. Pzena Investment Mgmt Limited Company last reported 529,884 shares in the company. Jfs Wealth Limited Liability Corporation holds 0.51% or 19,098 shares in its portfolio. The New York-based Gabelli Funds Ltd Liability Corporation has invested 0.88% in CVS Health Corp (NYSE:CVS). Univest Of Pennsylvania reported 39,166 shares or 1.71% of all its holdings. Mcdaniel Terry & holds 2.98% or 138,568 shares in its portfolio. Palo Capital has 49,658 shares for 1.63% of their US portfolio. Retail Bank has 0.03% invested in the company for 856 shares. Moreover, First National Trust Co has 0.34% invested in CVS Health Corp (NYSE:CVS) for 23,191 shares. Champlain Inv Prtn Limited Liability Corp holds 0.01% or 3,400 shares in its portfolio. Cypress Capital Mgmt Limited Liability Com (Wy), a Wyoming-based fund reported 1,715 shares. Lesa Sroufe has 0.19% invested in the company for 2,305 shares. The Massachusetts-based Grimes has invested 0.03% in CVS Health Corp (NYSE:CVS). Fiera accumulated 0.01% or 19,810 shares.
More notable recent CVS Health Corp (NYSE:CVS) news were published by: Nasdaq.com which released: “Mario Gabelli Comments on CVS Health Corp” on November 03, 2016, also Prnewswire.com with their article: “CVS Health Corporation To Hold Third Quarter 2016 Conference Call” published on October 28, 2016, Fool.com published: “Better Buy: CVS Health Corporation vs. Walgreens Boots Alliance” on October 11, 2016. More interesting news about CVS Health Corp (NYSE:CVS) were released by: Forbes.com and their article: “Ex-Dividend Reminder: CVS Health, Bard and AAR” published on October 18, 2016 as well as Seekingalpha.com‘s news article titled: “CVS Health Corporation: Attractively Valued And Set Up For Double Digit Returns” with publication date: October 19, 2016.
CVS Company Profile
CVS Health Corporation, incorporated on August 22, 1996, together with its subsidiaries (CVS Health), is a pharmacy company. The Firm operates through three business divisions: Pharmacy Services, Retail/LTC and Corporate. The Firm offers a range of services and products, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare. The Pharmacy Services Segment provides a range of pharmacy benefit management (PBM) solutions. The Retail Pharmacy segment includes retail drugstores, online retail pharmacy Websites and its retail healthcare clinics.
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