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

CVS Health Co. (NYSE:CVS) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 19,750,000 shares, a growth of 13.5% from the September 15th total of 17,400,000 shares. Based on an average daily trading volume, of 9,330,000 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.6% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Wells Fargo & Company upped their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Truist Financial boosted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.26.

CVS Health Stock Up 0.0 %

Shares of NYSE CVS opened at $65.01 on Thursday. The company has a 50 day simple moving average of $59.62 and a 200 day simple moving average of $60.73. The firm has a market cap of $81.61 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $2.21 EPS. On average, research analysts forecast that CVS Health will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Institutional Trading of CVS Health

Large investors have recently modified their holdings of the stock. First Community Trust NA grew its position in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $33,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $34,000. Steph & Co. grew its position in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the period. Finally, ORG Partners LLC grew its position in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 592 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

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.