Is CVS Health Stock a Bargain Buy After Falling to Multi-Year Lows?
Shares of CVS Health (NYSE: CVS) have been falling sharply this month after investors were unimpressed with the healthcare giant's latest earnings numbers. The sell-off has been so extreme that not only is CVS trading near its 52-week low, but the stock is now at levels it hasn't been at since 2020. It seems to be trading at a high discount, and with the big decline in price, its dividend is now yielding 4.8%, which is far higher than normal.
Is the sell-off warranted, and is CVS Health in trouble? Or is this an overreaction from the markets, and has the healthcare stock become an incredible bargain?
On May 1, CVS Health reported its first-quarter earnings numbers. On the top line, things looked fine, with CVS reporting revenue of $88.4 million for the three-month period ended March 31. That represented a year-over-year increase of 4%.
Source Fool.com
