Shares of CVS Health Corporation (NYSE:CVS) traded today at $108.03, eclipsing its 12-month high. Approximately 3.3 million shares have changed hands today, as compared to an average 30-day volume of 6.6 million shares.
Over the past year, CVS Health Corporation has traded in a range of $68.02 to $108.03 and is now at $107.96, 59% above that low.
CVS Health Corporation defies analysts with a current price ($107.96) 7.4% above its average consensus price target of $99.92.
Following its acquisition of Aetna in late 2018, CVS Health now provides an even more integrated healthcare-services offering for its members. Legacy CVS combined both the largest pharmacy benefit manager, processing over 2 billion adjusted claims annually, and a sizable pharmacy operation, including nearly 10,000 retail pharmacy locations primarily in the U.S. Adding a managed-care organization with 24 million medical members gives the company a strong position in the insurance industry and should help CVS better control overall healthcare costs for its clients.
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