CVS Health Corporation (NYSE:CVS) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 20,448,883 shares, an increase of 24.6% from the October 14th total of 16,407,233 shares. Based on an average daily volume of 6,447,105 shares, the days-to-cover ratio is presently 3.2 days. Approximately 1.9% of the shares of the company are sold short.

Shares of CVS Health Corporation (NYSE:CVS) opened at 74.04 on Friday. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $106.67. The stock has a market cap of $78.96 billion, a price-to-earnings ratio of 15.87 and a beta of 0.88. The firm has a 50-day moving average price of $85.54 and a 200-day moving average price of $93.77.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, November 8th. The pharmacy operator reported $1.64 EPS for the quarter, beating the consensus estimate of $1.57 by $0.07. CVS Health Corporation had a return on equity of 17.18% and a net margin of 2.96%. The company had revenue of $44.60 billion for the quarter, compared to analyst estimates of $45.29 billion. During the same period last year, the company earned $1.28 earnings per share. CVS Health Corporation’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts forecast that CVS Health Corporation will post $5.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th were issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, October 20th. CVS Health Corporation’s payout ratio is currently 36.40%.

A number of hedge funds have recently modified their holdings of CVS. Acrospire Investment Management LLC raised its stake in shares of CVS Health Corporation by 542.2% in the second quarter. Acrospire Investment Management LLC now owns 1,066 shares of the pharmacy operator’s stock worth $102,000 after buying an additional 900 shares in the last quarter. Springbok Capital Management LLC raised its stake in shares of CVS Health Corporation by 190.5% in the first quarter. Springbok Capital Management LLC now owns 1,130 shares of the pharmacy operator’s stock worth $117,000 after buying an additional 741 shares in the last quarter. Pinkerton Retirement Specialists LLC raised its stake in shares of CVS Health Corporation by 3,475.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,144 shares of the pharmacy operator’s stock worth $110,000 after buying an additional 1,112 shares in the last quarter. MU Investments Co. Ltd. raised its stake in shares of CVS Health Corporation by 62.0% in the second quarter. MU Investments Co. Ltd. now owns 1,150 shares of the pharmacy operator’s stock worth $109,000 after buying an additional 440 shares in the last quarter. Finally, D Orazio & Associates Inc. raised its stake in shares of CVS Health Corporation by 9.4% in the second quarter. D Orazio & Associates Inc. now owns 1,160 shares of the pharmacy operator’s stock worth $111,000 after buying an additional 100 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on CVS. Deutsche Bank AG boosted their price target on CVS Health Corporation from $99.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. FBR & Co reiterated an “outperform” rating and set a $120.00 price objective on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Argus reiterated a “buy” rating and set a $120.00 price objective on shares of CVS Health Corporation in a research note on Thursday, August 4th. Finally, Mizuho boosted their price objective on CVS Health Corporation from $108.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $106.24.

CVS Health Corporation Company Profile

CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.

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