CVS Health Corporation ($CVS) Stock Forecast: Down 5.1% Today

What is CVS Health Corporation?

CVS Health Corp (NYSE: CVS) is a prominent healthcare company that operates a chain of pharmacies and healthcare services across the United States. The company's stock had a strong bearish movement in today's market.

Why is CVS Health Corporation going down?

CVS stock is down 5.1% on Jun 27, 2024 18:01

• CVS stock experienced a significant decline due to the negative earnings report from a major competitor. This poor performance raised concerns about CVS facing similar challenges.
• The support level around $57.60 for CVS indicates a crucial market dynamic where previous resistance levels can turn into support levels, influencing trader behavior.
• Bullish options trends observed for CVS suggest that some deep-pocketed investors maintain a positive outlook on the company's future prospects despite the bearish movement.
• The overall market sentiment towards long-term stocks is cautious, with investors seeking undervalued opportunities amidst a challenging market environment. CVS's performance may be impacted by broader market trends and investor sentiment towards healthcare stocks.

CVS Price Chart

CVS News

Stock Of The Day: It''s No Coincidence CVS Health Stock Found Support Where It Did

CVS Health Corp (NYSE: CVS ) shares are getting crushed because of the terrible earnings report from Walgreens Boot Alliance. Inc. (NASDAQ: WBA ). Some investors fear CVS may experience some of the same issues that drove Walgreens lower . It isn''t a coincidence CVS found support right around the important $57.60 level. And it’s not surprising either. It''s an illustration of an important market dynamic that savvy traders use to profit. This is why it''s our Stock of the Day . The best traders don''t guess. They let the market tell them what to do. And the market “speaks” by how it reacts when an important price level has been reached. Resistance Becomes Support Price levels that had previously been resistance can convert into … Full story available on Benzinga.com

https://www.benzinga.com/markets/equities/24/06/39531636/stock-of-the-day-its-no-coincidence-cvs-health-stock-found-support-where-it-did

Behind the Scenes of CVS Health's Latest Options Trends - CVS Health ( NYSE:CVS )

Deep-pocketed investors have adopted a bullish approach towards CVS Health CVS, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today.

https://www.benzinga.com/insights/options/24/06/39527435/behind-the-scenes-of-cvs-healths-latest-options-trends

Walgreens woes continue with earnings miss, guidance cut and plans to shutter more stores

Walgreens shares tumbled early Thursday after the drugstore chain signaled that more store closings are on the way, missed earnings expectations for its third quarter and cut its annual forecast. The company said it was finishing a multiyear plan to shutter some underperforming U.S. stores, but it didn’t detail how many were targeted. Walgreens and major competitors like CVS and Rite Aid — which is going through a bankruptcy reorganization — have already closed hundreds of stores over the past few years. The companies have dealt with challenges that include years of tight reimbursement for their prescriptions and rising costs for running their locations. Plus, analysts say they’ve also been hit by growing competition from Walmart, Amazon and other discount retailers over sales of goods sold outside their store pharmacies. Consumers also tend to grow more price conscious when inflation rises. Walgreens also has been closing VillageMD primary care clinics it had been installing next to its stores in order to grow its presence as a health care provider.

https://wnyt.com/business-news/walgreens-woes-continue-with-earnings-miss-guidance-cut-and-plans-to-shutter-more-stores/

Bargain Alert: 7 Long-Term Stocks to Buy Hand-Over-Fist

I think it is a good idea to buy some undervalued long-term stocks on weakness before they start to make a recovery. The current market environment is quite unforgiving for many stocks as investors have piled into just a few tech stocks. However, as the market cycle reaches an inflection point after the rate cuts, I believe many of these long-term stocks will deliver huge gains. Moreover, many of these stocks have very little downside risk as they have seen significant selloffs. This makes it very appealing compared to the long-term upside many of these businesses have. Profitable companies with an established brand are highly unlikely to disappoint you in the long run if you hold them through the storm. Thus, here are seven long-term stocks that are trading at bargain levels:

https://investorplace.com/2024/06/bargain-alert-7-long-term-stocks-to-buy-hand-over-fist/

Is It Worth Investing in CVS Health ( CVS ) Based on Wall Street's Bullish Views?

Based on the average brokerage recommendation (ABR), CVS Health (CVS) should be added to one's portfolio. Wall Street analysts' overly optimistic recommendations cast doubt on the effectiveness of this highly sought-after metric. So, is the stock worth buying?

https://www.zacks.com/stock/news/2293573/is-it-worth-investing-in-cvs-health-cvs-based-on-wall-streets-bullish-views

Trending Today

Bonk ($BONK) Crypto Forecast: Down 5.3% Today

dogwifhat ($WIF) Crypto Forecast: Down 5.0% Today

Pepe ($PEPE) Crypto Forecast: Down 5.7% Today

Cardano ($ADA) Crypto Forecast: Down 5.0% Today

VeChain ($VET) Crypto Forecast: Down 5.1% Today

Decentraland ($MANA) Crypto Forecast: Down 5.0% Today

The Sandbox ($SAND) Crypto Forecast: Down 5.0% Today

Injective ($INJ) Crypto Forecast: Down 5.1% Today

BOOK OF MEME ($BOME) Crypto Forecast: Down 5.4% Today

Worldcoin ($WLD) Crypto Forecast: Down 5.3% Today

CVS Health Corporation Price History

31.04.2024 - CVS Stock was up 5.0%

• Deep-pocketed investors have shown a bullish stance towards CVS Health, evident from a significant surge in options trading activities.
• The positive market sentiment may be linked to the company's recent earnings exceeding expectations, resulting in a 1.6% stock price increase.
• Despite potential business implications from a Medline adult bed rails recall, investor focus remains on CVS Health's overall performance and future outlook.
• Support from major financial entities and bullish trends in options trading reinforce optimism for CVS Health, hinting at a possible stock price rebound.

31.04.2024 - CVS Stock was up 5.0%

• The recall of adult bed rails by Medline, leading to two deaths, may have highlighted the importance of product safety and quality control in the healthcare industry, potentially boosting investor confidence in CVS's commitment to consumer safety.
• The bullish move by financial giants on CVS Health, with a significant percentage of traders showing bullish tendencies, indicates positive sentiment and potential growth expectations for the company.
• The interest in CVS's 4.6% yield and rebound potential could have attracted investors looking for stable returns and growth opportunities in the healthcare sector.
• Overall, the combination of safety concerns addressed by the recall, positive market sentiment reflected in trader behavior, and investor interest in CVS's financial prospects likely contributed to the strong bullish movement in CVS stock today.

31.04.2024 - CVS Stock was up 5.2%

• The bullish movement in CVS stock could be attributed to notable bullish activity from financial giants, as reflected in unusual trades and a significant number of traders leaning towards bullish positions.
• Concerns raised by law firms' claims against CVS Health Corporation may have introduced some market uncertainty, yet the overall sentiment remained positive, bolstered by the bullish activity.
• Negative market sentiment towards certain healthcare stocks potentially steered investors towards more stable options like CVS, influencing the bullish trend observed in the stock.

30.04.2024 - CVS Stock was up 5.1%

• CVS stock saw positive movement today despite facing investigations by multiple law firms for potential securities law violations.
• Initially, the investigation news may have caused some stock price volatility, but investors are optimistic about the company's future.
• Walmart, Walgreens, and CVS scaling back or closing retail health clinics may have influenced CVS stock positively, as investors perceive it as a strategic move to enhance core operations and profitability.
• The market's favorable outlook on CVS today may be due to investors considering the company a stable healthcare sector investment, particularly compared to other healthcare stocks dealing with regulatory challenges and setbacks.

02.03.2024 - CVS Stock was up 8.3%

• CVS stock declined along with other healthcare stocks such as UnitedHealth Group and Humana due to lower Medicare Advantage rates.
• Pre-market trading activities showed a downward trend in healthcare stocks like CVS, signaling a pessimistic outlook on the industry.
• The market correction in cryptocurrencies like Bitcoin, Ethereum, and Dogecoin may have influenced the risk-averse sentiment, causing investors to retreat from healthcare stocks such as CVS.
• Negative guidance from PVH Corp. and the general decrease in U.S. stock futures could have intensified the bearish pressure on CVS stock.

02.03.2024 - CVS Stock was up 7.6%

• CVS stock plummeted due to the overall negative sentiment in the healthcare sector, triggered by the Medicare Advantage rate falling short and impacting companies like UnitedHealth and Humana as well.
• The finalized Medicare Advantage rates for 2025, which did not change from the initial plans in January, led to a sell-off in healthcare stocks, including CVS.
• The pre-market trading activity highlighted the market's reaction to healthcare companies' financial results and guidance, with CVS being one of the big stocks moving lower.
• The bearish trend in CVS stock was further exacerbated by the broader market decline, as indicated by the Dow futures falling by over 100 points, reflecting investors' concerns and contributing to the negative movement in the stock.

29.01.2024 - CVS Stock was up 1.8%

• CVS stock experienced a bearish movement today.
• Eye ointments sold at CVS and Walmart were recalled by the FDA due to concerns over sterility assurance and infection risks.
• The recall news likely impacted investor confidence in CVS's pharmaceutical products, leading to the bearish market movement.
• The introduction of new lash collections by KISS and ZitSticka's expansion into CVS may have been overshadowed by the negative recall news, contributing to the downward trend in CVS stock.

07.01.2024 - CVS Stock was up 5.0%

• CVS Health beat Q4 expectations, indicating strong performance.
• However, the company trimmed its annual outlook due to rising costs, which could have dampened market sentiment.
• The lowered outlook was specifically attributed to elevated medical cost trends, which may have caused some concern among investors.
• Despite the trimmed outlook, CVS's stock gained as the strong Q4 profit beat offset the lowered expectations.

02.10.2023 - CVS Stock was up 5.1%

• The bullish movement in CVS stock today can be attributed to several factors:
• 1. Minimal impact of pharmacist work action: The news that the recent work action by some U.S. pharmacists had minimal impact on CVS operations reassured investors and contributed to the bullish movement.
• 2. Strong Q3 results: CVS reported better-than-expected Q3 revenues, which grew 10.6% from the previous year. This positive performance across all segments of the company's business further boosted investor confidence.
• 3. Market's unhealthy response: Despite the positive results, the market initially responded negatively to CVS stock. However, the assessment suggests that investors should not be discouraged by this reaction, as the company's strong financials speak for themselves.
• Overall, the combination of minimal impact from the work action and strong financial performance likely contributed to the bullish movement in CVS stock today.

12.08.2023 - CVS Stock was up 5.5%

• The bullish movement in CVS stock today could be attributed to the following factors:
• 1. Positive market sentiment: Despite the general gloomy note in the market, CVS may have benefited from the overall positive sentiment towards the healthcare sector. Investors are paying attention to the resilience and growth potential of healthcare stocks, especially in light of the ongoing global health crisis.
• 2. Potential acquisition interest: The news about Walmart contemplating a multi-billion dollar majority stake in ChenMed, a provider of primary care clinics, could have sparked speculation about potential partnerships or acquisitions in the healthcare industry. This could have positively impacted CVS as investors see potential for growth and consolidation within the sector.
• 3. No direct impact from specific news articles: While the articles provided do not directly mention CVS, they focus on other companies or sectors. Therefore, it is unlikely that these articles had a significant impact on CVS's bullish movement today.
• 4. Overall market conditions: It's important to consider the broader market conditions and factors that may have influenced CVS's bullish movement, such as economic indicators, investor sentiment, and industry trends.

17.07.2023 - CVS Stock was up 10.3%

• CVS stock experienced a bearish movement today.
• The market movement may have been caused by reports that Blue Shield of California plans to drop CVS's Caremark as its pharmacy benefit manager.
• The discontinuation of CVS Caremark by Blue Shield of California could impact CVS's pharmacy-benefit management business and potentially lead to a loss of revenue.
• The negative news surrounding CVS's pharmacy benefit manager may have contributed to the bearish market movement of the stock.

17.07.2023 - CVS Stock was up 5.9%

• The bearish movement in CVS stock today could be attributed to the following factors:
• 1. Market Volatility: The overall market sentiment has been uncertain, with the S&P 500 experiencing a decline this month. This volatility could have influenced the bearish movement in CVS stock.
• 2. Jim Cramer's Comments: In one of the articles, Jim Cramer mentioned that CVS stock is "fine but not great because of shrinkage." This statement might have contributed to the negative sentiment surrounding the stock.
• 3. Lack of Positive News: The news articles provided do not contain any significant positive developments or catalysts for CVS. Without any positive news to drive investor sentiment, the stock may have experienced a bearish movement.
• 4. External Factors: It's important to consider that market movements can also be influenced by external factors such as economic indicators, industry trends, or geopolitical events. These factors may have played a role in the bearish movement of CVS stock, but they are not explicitly mentioned in the provided articles.