Stock Worth Watching: What’s Propelling CVS Health Corp to Decline So Much?

Stock Worth Watching: What's Propelling CVS Health Corp to Decline So Much?

The stock of CVS Health Corp (NYSE:CVS) is a huge mover today! About 38.88 million shares traded hands or 487.31% up from the average. CVS Health Corp (NYSE:CVS) has declined 19.34% since April 6, 2016 and is downtrending. It has underperformed by 21.30% the S&P500.
The move comes after 9 months negative chart setup for the $78.79 billion company. It was reported on Nov, 8 by Barchart.com. We have $67.10 PT which if reached, will make NYSE:CVS worth $6.30B less.

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. As per Thursday, March 10, the company rating was reinitiated by Barclays Capital. Oppenheimer maintained the stock with “Outperform” rating in Friday, August 28 report. The stock has “Outperform” rating given by Oppenheimer on Thursday, December 17. Morgan Stanley downgraded the shares of CVS in a report on Monday, June 20 to “Equal-Weight” rating. The firm earned “Outperform” rating on Wednesday, August 5 by RBC Capital Markets. Mizuho maintained the stock with “Buy” rating in Thursday, June 23 report. Robert W. Baird initiated CVS Health Corp (NYSE:CVS) on Friday, January 22 with “Outperform” rating. The firm has “Hold” rating given on Thursday, August 20 by Deutsche Bank. Citigroup maintained CVS Health Corp (NYSE:CVS) rating on Monday, May 9. Citigroup has “Neutral” rating and $115 price target. The firm has “Overweight” rating given on Friday, December 18 by Barclays Capital.

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 dropped, 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.
Appleton Prns Ma accumulated 92,025 shares or 1.8% of the stock. Holderness Investments owns 4,357 shares or 0.42% of their US portfolio. South Street Advisors, a New York-based fund reported 141,005 shares. The New York-based Natl Bank Of New York Mellon has invested 0.31% in CVS Health Corp (NYSE:CVS). Raymond James Na has invested 0.8% of its portfolio in CVS Health Corp (NYSE:CVS). Evergreen Capital Mngmt Ltd Liability Corporation last reported 6,711 shares in the company. The Illinois-based Nuveen Asset Management Ltd Liability Corp has invested 0.18% in CVS Health Corp (NYSE:CVS). Honeywell International owns 709,400 shares or 1.73% of their US portfolio. Moreover, Alley Company Ltd Company has 1.88% invested in CVS Health Corp (NYSE:CVS) for 43,272 shares. Edinburgh Prns reported 1,488 shares or 0.02% of all its holdings. The New York-based Samsung Asset (New York) has invested 1.13% in CVS Health Corp (NYSE:CVS). Richard C Young &, a Rhode Island-based fund reported 67,353 shares. Moreover, Clark Estates Incorporated Ny has 1.58% invested in CVS Health Corp (NYSE:CVS) for 83,000 shares. Silvercrest Asset Grp Ltd Liability has 0.91% invested in the company for 748,008 shares. Biltmore Wealth Mngmt Ltd Liability holds 5,419 shares or 0.44% of its portfolio.

More notable recent CVS Health Corp (NYSE:CVS) news were published by: Fool.com which released: “CVS Health Corporation Lowers Guidance Due to Recent Walgreens Wins” on November 08, 2016, also Nasdaq.com with their article: “Mid-Morning Market Update: Markets Open Lower; CVS Health Issues Weak Guidance” published on November 08, 2016, Schaeffersresearch.com published: “Buzz Stocks: CVS Health Corp, Valeant Pharmaceuticals Intl Inc, and Facebook Inc” on November 08, 2016. More interesting news about CVS Health Corp (NYSE:CVS) were released by: Prnewswire.com and their article: “CVS Health Corporation To Hold Third Quarter 2016 Conference Call” published on October 28, 2016 as well as Fool.com‘s news article titled: “Better Buy: CVS Health Corporation vs. Walgreens Boots Alliance” with publication date: October 11, 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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