CVS Health has been increasing its earnings by an average of 11.8% every year, which is slightly higher than the annual growth rate of 11.7% for the Healthcare industry. According to SimplyWall, a website for financial analysis, its revenues have also been rising by an average of 11.2% per year. CVS Health’s return on equity is 5.5%, and its net margins are 1.2%.
Moreover, CVS Health has $71.6 Billion in shareholder equity and $58.2 Billion in debt, which means its debt-to-equity ratio is 81.3%. According to simplywall, a website that provides financial analysis, its assets and liabilities are $239.3 Billion and $167.8 Billion respectively. CVS Health’s EBIT is $15.0 Billion, which gives it an interest coverage ratio of 11.6. It has $17.7 Billion in cash and short-term investments.
The market capitalization of CVS stock is $91.511 Billion and the total revenue is $322.79 Billion. Moreover, the stock’s basic EPS is $3.07 and the price-to-earnings ratio is 23.46. Moreover, the average volume is 9.49 Million and the current volume is 9.7 Million, the current volume is above average volume.
Moreover, The stock has done well this month, rising by 4.56%, but it has dropped by 19.53% in the last six months. CVS Health (NYSE: CVS) stock has a negative year-to-date return of 22.18% and a negative 1-year return of 22.09%.
Technical Analysis of CVS Health Price in 1-D Timeframe
The price action shows that the CVS Health price ( NYSE: CVS) started its journey by rallying downwards from the major supply zone. The CVS stock price has been in a downtrend since December 12th, 2022, making lower highs and lower lows. The CVS price dropped by about 36% in six months, from $104 to $66 by May 31st, 2023.
Moreover, after reaching a low of $66.51, the CVS stock price bounced back and rose by around 8% in two months. CVS stock is currently trading at $71.38 (at press time). The volume of the stock is increasing, which indicates more trading activity and interest. The CVS price is also following an upward trendline, making higher highs and higher lows.
However, to continue the upward movement, the CVS stock needs more buyers to break above the resistance levels.
At the time of publishing, CVS Health Price ( NYSE: CVS) is trading above the 20, and 50-day EMAs (exponential moving average), which is supporting the price trend. Hence, the CVS Price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 57.68 points. The 14 SMA is above the median line at 50.62 points which indicates that the price is bullish as the RSI is in bullish territory.
The MACD line at 0.2633 and signal line at 0.0327 are above the zero line and a bullish crossover was observed in the MACD oscillator which signals more bullishness for the CVS stock price.
Summary
CVS Health price shows that the investors and traders of the stock are bullish on the 1-D time frame. The price action shows a bullish outlook at the time of publishing. The technical parameters of the CVS stock price also support the bullish trend. The major indicators MACD, RSI, and EMA are giving positive signals and imply that the uptrend may continue.
Technical Levels
- The nearest support levels: $66.51 and $63.37.
- The nearest resistance levels: $78.27 and $84.55.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/07/17/cvs-health-price-prediction-will-cvs-stock-price-jump-80-mark/