Short Interest in CVS Health Corporation (NYSE:CVS) Drops By 13.4%

CVS Health Corporation (NYSE:CVS) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 18,762,000 shares, a decrease of 13.4% from the December 31st total of 21,665,261 shares. Based on an average daily volume of 7,566,253 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.5% of the shares of the company are sold short. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 7,566,253 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Investors Weigh In On CVS Health

A number of hedge funds have recently modified their holdings of the business. Hilltop National Bank bought a new position in CVS Health during the 2nd quarter worth about $91,000. QRG Capital Management Inc. boosted its position in shares of CVS Health by 173.9% during the second quarter. QRG Capital Management Inc. now owns 92,896 shares of the pharmacy operator’s stock worth $6,408,000 after buying an additional 58,984 shares during the period. Clarius Group LLC grew its holdings in shares of CVS Health by 13.1% during the second quarter. Clarius Group LLC now owns 3,611 shares of the pharmacy operator’s stock worth $249,000 after buying an additional 418 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in CVS Health in the 2nd quarter valued at approximately $579,000. Finally, Grimes & Company Inc. boosted its position in CVS Health by 5.8% during the 2nd quarter. Grimes & Company Inc. now owns 9,537 shares of the pharmacy operator’s stock worth $658,000 after acquiring an additional 519 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of CVS Health from $93.00 to $101.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Argus cut their target price on CVS Health from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Robert W. Baird boosted their price target on shares of CVS Health from $82.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Morgan Stanley raised their price objective on shares of CVS Health from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Finally, Barclays boosted their target price on CVS Health from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Nineteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $94.82.

CVS Health Trading Up 1.7%

Shares of NYSE CVS traded up $1.27 during midday trading on Tuesday, hitting $76.69. The stock had a trading volume of 988,497 shares, compared to its average volume of 9,897,570. The firm has a market cap of $97.36 billion, a P/E ratio of 202.11, a price-to-earnings-growth ratio of 0.69 and a beta of 0.50. CVS Health has a fifty-two week low of $53.36 and a fifty-two week high of $85.15. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.63. The company’s 50-day simple moving average is $78.85 and its 200 day simple moving average is $75.33.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Thursday, January 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Thursday, January 22nd. CVS Health’s payout ratio is presently 700.00%.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.