Short Term Price Target on CVS Health Corporation (CVS)

CVS Health Corporation (NYSE:CVS) : The highest level CVS Health Corporation (NYSE:CVS) is projected to reach is $123 for the short term and the lowest estimate is at $90. The consolidated price target from 22 rating analysts who initiate coverage on the stock is $111.61 and the possibility the share price can swing is $8.26.

Shares of CVS Health Corporation appreciated by 1.83% during the last five trading days but lost 0.87% on a 4-week basis. CVS Health Corporation has dropped 8.29% during the last 3-month period . Year-to-Date the stock performance stands at -1.23%. Also, Morgan Stanley downgrades their rating on the shares of CVS Health Corporation (NYSE:CVS). The current rating of the shares is Equal-weight. Equity Analysts at the Firm lowers the price target to $104 per share from $111 per share. The rating by the firm was issued on June 20, 2016.

CVS Health Corporation (NYSE:CVS) : 15 brokerage houses believe that CVS Health Corporation (NYSE:CVS) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on CVS Health Corporation (NYSE:CVS). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 21 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.48.

CVS Health Corporation (NYSE:CVS): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $94.80 and $94.36 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $95.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $95.74, notching a gain of 1.41% for the day. The total traded volume was 4,936,904 . The stock had closed at $94.41 on the previous day.

In an insider trading activity, Merlo Larry J, director officer (President and CEO) of Cvs Health Corp, unloaded 38,247 shares at an average price of $105 on May 5, 2016. The total amount of the transaction was worth $4,015,935, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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.

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