CVS Health Co. (NYSE:CVS) Short Interest Up 7.1% in December

CVS Health Co. (NYSE:CVS) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 19,030,000 shares, a growth of 7.1% from the November 30th total of 17,770,000 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 13,730,000 shares, the days-to-cover ratio is presently 1.4 days.

Analysts Set New Price Targets

Several research analysts have weighed in on CVS shares. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. Piper Sandler decreased their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. TD Cowen raised their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, UBS Group boosted their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $69.12.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $44.89 on Thursday. The business has a 50-day moving average of $53.30 and a two-hundred day moving average of $57.30. The firm has a market capitalization of $56.49 billion, a PE ratio of 11.39, a P/E/G ratio of 0.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health has a 12 month low of $43.56 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the firm posted $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts forecast that CVS Health will post 5.32 earnings per share for the current year.

Institutional Trading of CVS Health

A number of institutional investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its position in shares of CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after buying an additional 162 shares during the period. Hexagon Capital Partners LLC grew its position in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after acquiring an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of CVS Health by 13.1% during the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after purchasing an additional 195 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in CVS Health by 11.9% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,886 shares of the pharmacy operator’s stock valued at $111,000 after purchasing an additional 200 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its stake in CVS Health by 0.7% during the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after buying an additional 200 shares during the period. 80.66% of the stock is owned by hedge funds and other 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.