Understanding CVS's Price Drop Today

This afternoon we watched CVS Health drop -2.6% to a price of $69.5 per share. The large-cap Pharmaceutical Retail company is now trading -23.24% below its average target price of $90.54. Analysts have set target prices ranging from $76.0 to $110.0 per share for CVS Health, and have given the stock an average rating of buy.

CVS Health's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.2%. The stock's short ratio is 1.61. The company's insiders own 0.18% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 79.9%. In conclusion, we believe there is mixed market sentiment regarding CVS Health.

Institutions Invested in CVS Health

Date Reported Holder Percentage Shares Value
2023-06-30 Vanguard Group Inc 9% 116,676,882 $8,109,054,871
2023-06-30 Blackrock Inc. 7% 93,734,850 $6,514,581,371
2023-06-30 State Street Corporation 4% 55,877,387 $3,883,483,938
2023-06-30 Morgan Stanley 3% 33,253,424 $2,311,116,266
2023-06-30 Capital World Investors 2% 30,490,802 $2,119,113,763
2023-06-30 Geode Capital Management, LLC 2% 23,325,287 $1,621,109,759
2023-06-30 FMR, LLC 2% 21,292,797 $1,479,851,503
2023-06-30 Invesco Ltd. 1% 17,002,487 $1,181,674,532
2023-06-30 Bank of America Corporation 1% 16,551,119 $1,150,304,412
2023-06-30 Dodge & Cox Inc 1% 16,024,422 $1,113,698,918
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.