The stock of CVS Health Corp (NYSE:CVS) hit a new 52-week low and has $81.01 target or 6.00% below today’s $86.18 share price. The 8 months bearish chart indicates high risk for the $90.97B company. The 1-year low was reported on Oct, 5 by Barchart.com. If the $81.01 price target is reached, the company will be worth $5.46B 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 1.16M shares traded hands. CVS Health Corp (NYSE:CVS) has declined 12.58% since March 2, 2016 and is downtrending. It has underperformed by 20.84% 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 $1.66 billion for 13.72 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 14 analysts covering CVS Health (NYSE:CVS), 10 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 71% are positive. CVS Health has been the topic of 21 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Monday, November 2 by Oppenheimer. Mizuho maintained CVS Health Corp (NYSE:CVS) on Thursday, June 23 with “Buy” rating. The rating was maintained by Oppenheimer with “Outperform” on Friday, August 28. The firm earned “Strong Buy” rating on Monday, November 2 by S&P Research. Robert W. Baird initiated the shares of CVS in a report on Friday, January 22 with “Outperform” rating. The stock of CVS Health Corp (NYSE:CVS) has “Outperform” rating given on Thursday, December 17 by Oppenheimer. Deutsche Bank maintained CVS Health Corp (NYSE:CVS) rating on Thursday, August 20. Deutsche Bank has “Hold” rating and $121 price target. Barclays Capital reinitiated CVS Health Corp (NYSE:CVS) on Thursday, March 10 with “Overweight” rating. The firm earned “Overweight” rating on Monday, November 2 by JP Morgan. The firm has “Hold” rating by Deutsche Bank given on Wednesday, July 22.
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 Q2 2016. Its down 0.10, from 1.1 in 2016Q1. The ratio turned negative, 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.
Pax Ww Limited has invested 1.1% of its portfolio in CVS Health Corp (NYSE:CVS). Balyasny Asset Mngmt Ltd Liability holds 463,883 shares or 0.29% of its portfolio. Regentatlantic Cap Ltd last reported 157,178 shares in the company. D L Carlson Investment accumulated 1.94% or 56,807 shares. Roof Eidam And Maycock Adv has 0.86% invested in the company for 17,195 shares. Hbk Sorce Advisory Limited Liability Company reported 9,654 shares or 0.2% of all its holdings. Moreover, Blackrock Fund Advisors has 0.28% invested in CVS Health Corp (NYSE:CVS) for 13.14M shares. Lombard Odier Asset Mngmt (Europe) Ltd has invested 0.08% of its portfolio in CVS Health Corp (NYSE:CVS). Pathstone Family Office Limited Liability Company holds 0.02% or 208 shares in its portfolio. Hgk Asset Incorporated owns 118,185 shares or 1.69% of their US portfolio. Herndon Cap Management Lc holds 0% or 99 shares in its portfolio. Btr Cap Management has invested 3.07% of its portfolio in CVS Health Corp (NYSE:CVS). Value Advisers Ltd Liability Co owns 1.22M shares or 3.45% of their US portfolio. Moreover, First Hawaiian National Bank & Trust has 0.04% invested in CVS Health Corp (NYSE:CVS) for 2,497 shares. Abner Herrman And Brock Limited Liability Corporation accumulated 2,857 shares or 0.06% of the stock.
Insider Transactions: Since May 5, 2016, the stock had 0 insider purchases, and 3 insider sales for $5.83 million net activity. 38,247 shares were sold by MERLO LARRY J, worth $4.02 million. 9,798 CVS Health Corp (NYSE:CVS) shares with value of $1.03M were sold by GOLD STEPHEN J. Shares for $789,285 were sold by Brennan Troyen A on Thursday, May 5.
More notable recent CVS Health Corp (NYSE:CVS) news were published by: Seekingalpha.com which released: “CVS Health – PBM Scrutiny Overhangs Industry” on October 04, 2016, also Fool.com with their article: “3 Reasons CVS Health Corporation Stock Could Rise” published on September 09, 2016, Fool.com published: “Forget CVS Health Corporation: Here Are 3 Better Dividend Stocks” on September 06, 2016. More interesting news about CVS Health Corp (NYSE:CVS) were released by: Fool.com and their article: “2 Stocks With Better Dividends Than CVS Health Corporation” published on September 08, 2016 as well as Benzinga.com‘s news article titled: “Jim Cramer On CVS Health Corp And Skechers USA Inc” with publication date: September 25, 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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