Recent trading patterns in the stock of CVS Health Corporation (NYSE:CVS) have investors on high alert. Many experts agree that the best way to predict future performance is by studying the past. In the cast of CVS, these trading patterns could have some important implications for future performance. In the most recent quarter, institutional ownership decreased by a net of 9.24 million shares, or 1.1%. This is a bearish sign and indicates that institutions are feeling more pessimistic about the outlook for CVS overall. 721 holders increased their positions, 786 decreased their positions, and 145 holders held their positions.

Among institutions that increased their positions, 91 were new positions. Among holders that decreased their positions, 93 sold out of the stock CVS Health Corporation. Insider ownership during the latest quarter decreased by a net of 710241 shares, indicating that CVS’s key executives are feeling more bearish about the stock than they did three months ago. This activity represents a continuation of a theme over the past twelve months. Insider ownership during the last year has decreased by a net of 1.01 million shares. 43.9% of insider trades in the last 12 months were buys, and 56.1% were sells.

Over the past year, the price of CVS Health Corporation (CVS) has decreased -10.04% while the S&P 500 has increased 15.99%. During the past 20 days, CVS has increased 7.07% while the broad market has increased 2.12%. CVS ‘s 20-day moving average currently sits below its 100-day moving average. This is a bearish signal that suggests the stock price might have farther to fall. CVS’s average trading volume during the past 20 days is higher than the average volume over the past 100 days, which could be an indication that investors are feeling more certain than usual about the direction of CVS’s future price movements.

CVS Health Corporation (NYSE:CVS) has a 20-day RSI of 56.06%. According to this momentum indicator, a reading between 30 and 70 suggests the stock is not especially cheap or expensive, and not on the brink of a trend reversal. The MACD tells a different story. CVS’s 9-day MACD currently sits below the 20-day MACD, indicating that the stock might be on the cusp of a downtrend. CVS’s average trading volatility during the past few weeks is 7.08% higher than the average volatility over the past 100 days. This means that the stock’s daily price swings have been more extreme in recent times compared to the past.

Analysts expect CVS Health Corporation (CVS) to generate earnings per share of $5.88 in 2017. This works out to an increase of 0.68% compared to last year’s earnings. For comparison’s sake, analysts expect the S&P 500 to grow earnings by an average of 12% in 2017. The average investment rating for CVS on a scale of 1 to 5 (1 being a strong sell and 5 being a strong buy) is a 4.00 or a Moderate Buy. Three months ago, analysts assigned CVS a 4.29 rating, which implies that analysts have become more pessimistic about the outlook for the stock over the next year.