CVS Health Corporation’s Stock Price Soars to $59.30, Marking a Robust 3.35% Uptick

CVS Health Corporation (CVS)

59.30 USD +1.92 (+3.35%) Volume: 14.23M

CVS Health Corporation’s stock price stands at 59.30 USD, demonstrating a promising rise of +3.35% this trading session with a trading volume of 14.23M, despite a year-to-date decrease of -24.90%, indicating a potential recovery for investors.

Latest developments on CVS Health Corporation

CVS Health Corp stock has seen a significant decrease of 27.5% year to date, prompting investors to consider buying the dip. The company is facing a looming investor deadline next week, as Robbins Geller Rudman & Dowd investigate potential legal actions against CVS and its officers over stock price manipulation and a $764 million buyback. Despite these challenges, Royal Bank of Canada has reiterated an “Outperform” rating for CVS Health, showing confidence in the company’s long-term prospects. In a positive development, Aetna Better Health of Illinois has donated over $72,000 to under-resourced communities, highlighting CVS’s commitment to social responsibility.

CVS Health Corporation on Smartkarma

Analysts at Baptista Research have been closely monitoring Cvs Health Corp on Smartkarma, highlighting key insights in their research reports. In one report titled “CVS Health Corporation: Strategic Leverage in Pharmacy Benefit Management (PBM) and Insurance Operations! – Major Drivers,” the analysts expressed a bullish sentiment. The report discussed the company’s mixed financial results in the second quarter of 2024, with achievements in adjusted earnings per share and revenues exceeding $91 billion. The strong performance in Health Services and Pharmacy & Consumer Wellness segments was noted as supporting factors.

Another report by Baptista Research on Smartkarma, titled “CVS Health Corporation: Will The Increasing Margin in Medicare Advantage Last? – Major Drivers,” also showed a bullish lean. The report highlighted the positive and negative impacts on CVS Health’s business structure in the Q1 2024 earnings. Lower-than-expected earnings per share were attributed to utilization pressures in Medicare Advantage, impacting the Health Care Benefits segment. Due to these results, CVS has revised its full-year guidance for adjusted EPS to at least $7, reflecting the analysts’ assessment of the company’s performance.

A look at CVS Health Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

According to Smartkarma Smart Scores, Cvs Health Corp has a strong outlook in terms of value and dividend, scoring the highest possible score of 5 in both categories. This indicates that the company is considered to be a good investment in terms of its financial health and ability to provide consistent returns to shareholders.

While Cvs Health Corp scored slightly lower in growth, resilience, and momentum, with scores of 3 in each category, the company still maintains a positive overall outlook. With its diverse offerings in pharmacy benefit management services, retail pharmacy, and disease management programs, Cvs Health Corp continues to be a key player in the healthcare industry, operating drugstores across the U.S., the District of Columbia, and Puerto Rico.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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