CVS Health Corporation (CVS) has been under a strong bear grip, hence the stock is down -1.79% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 4.57% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.02% in the last 1 week, and is up 0.65% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
CVS Health Corporation (NYSE:CVS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $97.38 and $96.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $97.91. The buying momentum continued till the end and the stock did not give up its gains. It closed at $97.37, notching a gain of 0.41% for the day. The total traded volume was 3,797,663 . The stock had closed at $96.97 on the previous day.
The stock has recorded a 20-day Moving Average of 1.63% and the 50-Day Moving Average is 2.05%. CVS Health Corporation has dropped 6.72% during the last 3-month period . Year-to-Date the stock performance stands at 0.89%.
CVS Health Corporation (CVS) stock is expected to deviate a maximum of $7.49 from the average target price of $111.86 for the short term period. 22 Street Experts have initiated coverage on the stock with the most promising target being $123 and the most muted being $90.
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names. The Retail Pharmacy segment sells prescription drugs and an assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, personal care products, convenience foods, photo finishing, seasonal merchandise and greeting cards through the Companys retail stores, online retail pharmacy Websites and retail healthcare clinics. The Corporate segment provides management and administrative services to support the overall operations of the Company. The Company, through its wholly owned subsidiary, Omnicare, Inc., provides pharmacy services to long term care facilities.