#6 - CVS Health (NYSE:CVS)
While other chains such as Rite-Aid (NYSE:RAD) are continuing to struggle, CVS Health (NYSE:CVS) looks like they’ve caught a bit of a tailwind. That is likely to remain in full effect as health and wellness will remain a major topic of discussion.
Like HCA, CVS stock is down over 10% for the year. But widening the lens to the last 12 months shows a stock that is up nearly 15%. And the stock is up over 20% since the pandemic began.
In the short term, CVS should get a lift from its Return Ready service. This will allow the company to open Covid-19 testing facilities in a workspace or college campus. It can also allow the company to perform valuable related services such as contact tracing or giving flu shots. And it’s not a leap of faith to imagine that CVS may be a partner in administering a vaccine should one become available.
From a macro level, CVS will not be hurt by the digital health movement. In fact, the company may be a beneficiary of customers becoming more comfortable using health care monitoring equipment at home.
About CVS Health
CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.
More about CVS Health- Current Price
- $67.19
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 19 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $71.94 (7.1% Upside)
