CVS Health Co. (NYSE:CVS) Short Interest Up 16.5% in June

CVS Health Co. (NYSE:CVS) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 20,640,000 shares, an increase of 16.5% from the May 31st total of 17,710,000 shares. Based on an average daily volume of 12,590,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVS. SVB Leerink reiterated a “market perform” rating and set a $60.00 target price (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. JPMorgan Chase & Co. decreased their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Leerink Partnrs cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Piper Sandler boosted their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Truist Financial reiterated a “buy” rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

A number of hedge funds have recently modified their holdings of the business. Atticus Wealth Management LLC boosted its holdings in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the period. USA Financial Formulas boosted its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the 4th quarter worth about $32,000. Creekmur Asset Management LLC bought a new stake in shares of CVS Health in the fourth quarter valued at about $34,000. Finally, Steph & Co. boosted its position in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $57.52 on Wednesday. The stock has a market cap of $72.21 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52. The stock has a 50-day moving average of $59.34 and a 200-day moving average of $70.02. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that CVS Health will post 7.02 earnings per share for the current year.

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.