CVS Health Co. (NYSE:CVS) Sees Significant Increase in Short Interest

CVS Health Co. (NYSE:CVS) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 19,030,000 shares, an increase of 7.1% from the November 30th total of 17,770,000 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 13,730,000 shares, the days-to-cover ratio is currently 1.4 days.

CVS Health Stock Up 2.2 %

CVS stock opened at $44.89 on Thursday. The stock’s 50 day moving average is $53.30 and its 200-day moving average is $57.30. CVS Health has a twelve month low of $43.56 and a twelve month high of $83.25. 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 quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the business posted $2.21 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. Sell-side analysts expect that CVS Health will post 5.32 EPS for the current fiscal year.

Hedge Funds Weigh In On CVS Health

Hedge funds and other institutional investors have recently modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new stake in CVS Health during the third quarter worth $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the 3rd quarter worth $31,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health in the 3rd quarter worth about $31,000. Reston Wealth Management LLC bought a new position in CVS Health during the third quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in CVS Health in the third quarter worth about $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent research reports. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $66.00 in a research note on Monday, November 18th. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. UBS Group increased their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.12.

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.