CVS currently trading at a FWD PE of 8.44, well below 16x historical average.
CVS's shiller PE is significantly below its median shiller PE of 18.22, also its shiller PE is currently ranked better than 69% of 13 companies in the healthcare plans industry.
The PBM segment contributes 46% of CVS income; a 25% PMB profitability cut would reduce the EPS to ≈$4, implying a fair value of $60 and a P/E of 15x
Tax loss harvesting is over and institutional ownership still stands high at 82% with only 1.51% of shares shorted.
Technically, SP is trading at previous significant resistance/support levels back to late 2013. Also the RSI just hit the 30% level on the 3 day chart, the last 4 times that this level was reached the SP increased an average of 32% before a primary trend was continued or major retracement occured.
CVS's shiller PE is significantly below its median shiller PE of 18.22, also its shiller PE is currently ranked better than 69% of 13 companies in the healthcare plans industry.
The PBM segment contributes 46% of CVS income; a 25% PMB profitability cut would reduce the EPS to ≈$4, implying a fair value of $60 and a P/E of 15x
Tax loss harvesting is over and institutional ownership still stands high at 82% with only 1.51% of shares shorted.
Technically, SP is trading at previous significant resistance/support levels back to late 2013. Also the RSI just hit the 30% level on the 3 day chart, the last 4 times that this level was reached the SP increased an average of 32% before a primary trend was continued or major retracement occured.
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