Can CVS Health Corp (CVS) stock recover despite sales dropping?

In yesterday’s Wall Street session, CVS Health Corp (NYSE:CVS) shares traded at $69.13, up 0.92% from the previous session.

25 analysts cover CVS Health Corp (NYSE:CVS), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $104.00 and a low of $74.00, we find $86.00. Given the previous closing price of $68.50, this indicates a potential upside of 25.55 percent. CVS stock price is now -0.79% away from the 50-day moving average and -5.36% away from the 200-day moving average. The market capitalization of the company currently stands at $88.96B.

The stock has received a hold rating from 6 analysts and a buy rating from 18. Brokers who have rated the stock have averaged $87.10 as their price target over the next twelve months.

With the price target enhanced from $81 to $83, Evercore ISI Upgraded its rating from In-line to Outperform for CVS Health Corp (NYSE: CVS).

In other news, LUDWIG EDWARD J, Director bought 2,000 shares of the company’s stock on Nov 03. The stock was bought for $140,930 at an average price of $70.47. Upon completion of the transaction, the Director now directly owns 20,630 shares in the company, valued at $1.43 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 03, SVP, Cont & Chief Acct Officer Clark James David sold 25,759 shares of the business’s stock. A total of $1,930,004 was realized by selling the stock at an average price of $74.92. This leaves the insider owning 4,698 shares of the company worth $0.32 million. Insiders disposed of 692,808 shares of company stock worth roughly $47.89 million over the past 1 year. A total of 0.18% of the company’s stock is owned by insiders.

On Wednesday morning CVS Health Corp (NYSE: CVS) stock kicked off with the opening price of $68.70. During the past 12 months, CVS Health Corp has had a low of $64.41 and a high of $104.83. As of last week, the company has a debt-to-equity ratio of 1.08, a current ratio of 0.86, and a quick ratio of 0.64. According to the stock market information, the enterprise value for the company is $152.87B, which is based on a 10.43 price-to-earnings ratio, a 2.65 price-to-earnings-growth ratio, and a beta of 0.54. The fifty day moving average price for CVS is $69.76 and a two-hundred day moving average price translates $72.95 for the stock.

The latest earnings results from CVS Health Corp (NYSE: CVS) was released for Sep, 2023. According to the Healthcare Plans Company, earnings per share came in at $2.21, beating analysts’ expectations of $2.13 by 0.08. This compares to -$2.58 EPS in the same period last year. The net profit margin was 2.47% and return on equity was 11.86% for CVS. The company reported revenue of $89.76 billion for the quarter, compared to $81.16 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.6 percent. For the current quarter, analysts expect CVS to generate $90.07B in revenue.

CVS Health Corp(CVS) Company Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. The Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services. It serves employers, insurance companies, unions, government employee groups, health plans, prescription drug plans, Medicaid managed care plans, plans offered on public health insurance and private health insurance exchanges, other sponsors of health benefit plans, and individuals. This segment operates retail specialty pharmacy stores; and specialty mail-order, mail-order dispensing, and compounding pharmacies, as well as branches for infusion and enteral nutrition services. The Retail/LTC segment sells prescription and over-the-counter drugs, consumer health and beauty products, and personal care products; and provides health care services through its MinuteClinic walk-in medical clinics. This segment also distributes prescription drugs; and provides related pharmacy consulting and other ancillary services to care facilities and other care settings. The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was incorporated in 1996 and is headquartered in Woonsocket, Rhode Island.