Eagle Ridge Investment Management Lowers stake in CVS Health Corp (CVS)

CVS Health Corp (CVS) : Eagle Ridge Investment Management reduced its stake in CVS Health Corp by 0.74% during the most recent quarter end. The investment management company now holds a total of 116,729 shares of CVS Health Corp which is valued at $11,270,185 after selling 872 shares in CVS Health Corp , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.CVS Health Corp makes up approximately 2.50% of Eagle Ridge Investment Management’s portfolio.

Other Hedge Funds, Including , Leavell Investment Management reduced its stake in CVS by selling 1,134 shares or 3.87% in the most recent quarter. The Hedge Fund company now holds 28,166 shares of CVS which is valued at $2,732,102. CVS Health Corp makes up approx 0.39% of Leavell Investment Management’s portfolio.Naples Global Advisors reduced its stake in CVS by selling 75 shares or 2.67% in the most recent quarter. The Hedge Fund company now holds 2,732 shares of CVS which is valued at $266,725. CVS Health Corp makes up approx 0.11% of Naples Global Advisors’s portfolio.Abner Herrman Brock boosted its stake in CVS in the latest quarter, The investment management firm added 130 additional shares and now holds a total of 2,857 shares of CVS Health Corp which is valued at $278,929. CVS Health Corp makes up approx 0.06% of Abner Herrman Brock’s portfolio.Daiwa Sb Investments Ltd. reduced its stake in CVS by selling 3,570 shares or 26.7% in the most recent quarter. The Hedge Fund company now holds 9,800 shares of CVS which is valued at $948,052. CVS Health Corp makes up approx 0.27% of Daiwa Sb Investments Ltd.’s portfolio.

CVS Health Corp opened for trading at $92.67 and hit $93.72 on the upside on Thursday, eventually ending the session at $93.39, with a gain of 0.71% or 0.66 points. The heightened volatility saw the trading volume jump to 38,54,037 shares. Company has a market cap of $100,303 M.

On the company’s financial health, CVS Health Corp reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 3, 2016. Analyst had a consensus of $1.16. The company had revenue of $43215.00 million for the quarter, compared to analysts expectations of $43000.77 million. The company’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS.

Many Wall Street Analysts have commented on CVS Health Corp. Shares were Reiterated by Mizuho on Jun 23, 2016 to “Buy” and Lowered the Price Target to $ 108 from a previous price target of $117 .Shares were Reiterated by Deutsche Bank on Jun 22, 2016 to “Hold” and Lowered the Price Target to $ 99 from a previous price target of $105 .CVS Health Corp was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 20, 2016.

CVS Health Corporation together with its subsidiaries is a pharmacy company. The Company operates through three business segments: Pharmacy Services Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services Novologix and Navarro Health Services names. The Retail Pharmacy segment sells prescription drugs and an assortment of general merchandise including over-the-counter drugs beauty products and cosmetics personal care products convenience foods photo finishing seasonal merchandise and greeting cards through the Company’s retail stores online retail pharmacy Websites and retail healthcare clinics. The Corporate segment provides management and administrative services to support the overall operations of the Company. The Company through its wholly owned subsidiary Omnicare Inc. provides pharmacy services to long term care facilities.

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