CVS Health Corp (CVS) Short Interest Up 8.2% in July

CVS Health Corp (NYSE:CVS) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 50,796,244 shares, a growth of 8.2% from the July 13th total of 46,962,651 shares. Currently, 5.0% of the shares of the stock are sold short. Based on an average trading volume of 5,911,694 shares, the short-interest ratio is currently 8.6 days.

Shares of NYSE:CVS opened at $73.20 on Friday. The firm has a market capitalization of $70.30 billion, a PE ratio of 12.41, a P/E/G ratio of 0.93 and a beta of 0.96. CVS Health has a one year low of $60.14 and a one year high of $84.00. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.87 and a current ratio of 2.34.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion for the quarter, compared to analyst estimates of $46.34 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. research analysts expect that CVS Health will post 7.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Wednesday, July 25th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Tuesday, July 24th. CVS Health’s payout ratio is 33.90%.

CVS has been the topic of a number of analyst reports. Citigroup reaffirmed a “buy” rating and set a $81.00 target price on shares of CVS Health in a report on Monday, July 9th. ValuEngine lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Morgan Stanley decreased their target price on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 3rd. Loop Capital set a $68.00 target price on shares of CVS Health and gave the stock a “hold” rating in a report on Monday, May 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 target price on shares of CVS Health in a report on Wednesday, August 8th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. CVS Health presently has a consensus rating of “Buy” and an average target price of $86.04.

Large investors have recently modified their holdings of the company. Adviser Investments LLC grew its holdings in shares of CVS Health by 43.3% during the 2nd quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock valued at $193,000 after purchasing an additional 905 shares during the last quarter. BancorpSouth Bank bought a new position in shares of CVS Health during the 4th quarter valued at $2,389,000. Whitnell & Co. grew its holdings in shares of CVS Health by 3.6% during the 2nd quarter. Whitnell & Co. now owns 50,248 shares of the pharmacy operator’s stock valued at $3,233,000 after purchasing an additional 1,725 shares during the last quarter. ICM Asset Management Inc. WA bought a new position in shares of CVS Health during the 2nd quarter valued at $1,152,000. Finally, Chase Investment Counsel Corp bought a new position in shares of CVS Health during the 1st quarter valued at $235,000. 83.60% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Company Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

Featured Article: Trading Strategy Examples and Plans

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply