CVS Health Corp (NYSE:CVS) is Gyroscope Capital Management Group LLC’s 10th Largest Position

Gyroscope Capital Management Group LLC lowered its position in shares of CVS Health Corp (NYSE:CVS) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,843 shares of the pharmacy operator’s stock after selling 724 shares during the period. CVS Health accounts for about 2.5% of Gyroscope Capital Management Group LLC’s holdings, making the stock its 10th biggest position. Gyroscope Capital Management Group LLC’s holdings in CVS Health were worth $5,597,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hoover Financial Advisors Inc. purchased a new position in CVS Health during the second quarter valued at approximately $32,000. Exchange Traded Concepts LLC bought a new stake in CVS Health during the second quarter valued at approximately $41,000. Keebeck Wealth Management LLC bought a new stake in CVS Health during the second quarter valued at approximately $42,000. Campbell Wealth Management bought a new stake in CVS Health during the second quarter valued at approximately $49,000. Finally, Balentine LLC bought a new stake in CVS Health during the first quarter valued at approximately $47,000. 75.88% of the stock is owned by institutional investors.

NYSE:CVS opened at $59.59 on Friday. The company has a fifty day moving average of $59.23 and a 200 day moving average of $62.28. CVS Health Corp has a 52 week low of $52.04 and a 52 week high of $77.03. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $77.99 billion, a P/E ratio of 9.47, a P/E/G ratio of 1.48 and a beta of 0.68.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.71. CVS Health had a net margin of 3.13% and a return on equity of 16.32%. The company had revenue of $65.30 billion during the quarter, compared to analyst estimates of $64.29 billion. During the same period in the prior year, the business posted $1.89 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, analysts anticipate that CVS Health Corp will post 7.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Wednesday, October 21st. CVS Health’s payout ratio is currently 28.25%.

CVS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $109.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Piper Sandler started coverage on shares of CVS Health in a report on Thursday, September 17th. They issued an “overweight” rating and a $72.00 price objective for the company. Credit Suisse Group boosted their price objective on shares of CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. SVB Leerink boosted their price objective on shares of CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, Royal Bank of Canada restated a “buy” rating on shares of CVS Health in a report on Thursday, July 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $81.94.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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