CVS Health Co. (NYSE:CVS) Short Interest Update

CVS Health Co. (NYSE:CVS) saw a significant drop in short interest in September. As of September 15th, there was short interest totalling 17,400,000 shares, a drop of 5.9% from the August 31st total of 18,500,000 shares. Based on an average trading volume of 8,620,000 shares, the short-interest ratio is currently 2.0 days. Currently, 1.4% of the shares of the stock are short sold.

CVS Health Price Performance

Shares of NYSE:CVS traded down $1.57 during trading on Tuesday, reaching $61.31. The stock had a trading volume of 2,999,154 shares, compared to its average volume of 10,879,581. The business has a fifty day moving average price of $58.29 and a 200-day moving average price of $61.77. 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 quick ratio of 0.66 and a current ratio of 0.86. The stock has a market cap of $76.97 billion, a PE ratio of 10.87, a PEG ratio of 0.81 and a beta of 0.53.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.34%. CVS Health’s payout ratio is currently 46.75%.

Wall Street Analyst Weigh In

Several analysts have commented on CVS shares. Evercore ISI decreased their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barclays dropped their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company raised their target price 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. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $72.10.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently made changes to their positions in CVS. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health in the 4th quarter valued at about $32,000. First Community Trust NA increased its stake in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the period. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health during the fourth quarter worth about $34,000. Steph & Co. raised its stake in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in shares of CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

About CVS Health

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.