First Manhattan Co Lowers stake in CVS Health Corp (CVS)

CVS Health Corp (CVS) : First Manhattan Co reduced its stake in CVS Health Corp by 3.49% during the most recent quarter end. The investment management company now holds a total of 2,963,676 shares of CVS Health Corp which is valued at $287,091,294 after selling 107,149 shares in CVS Health Corp , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.CVS Health Corp makes up approximately 1.72% of First Manhattan Co’s portfolio.

Other Hedge Funds, Including , Trust Department Mb Financial Bank N A reduced its stake in CVS by selling 486 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 153,699 shares of CVS which is valued at $14,888,822. CVS Health Corp makes up approx 1.61% of Trust Department Mb Financial Bank N A’s portfolio.Trust Co boosted its stake in CVS in the latest quarter, The investment management firm added 2,020 additional shares and now holds a total of 38,305 shares of CVS Health Corp which is valued at $3,705,626. CVS Health Corp makes up approx 1.40% of Trust Co’s portfolio.Kistler-tiffany Companies boosted its stake in CVS in the latest quarter, The investment management firm added 547 additional shares and now holds a total of 8,457 shares of CVS Health Corp which is valued at $818,130. CVS Health Corp makes up approx 0.41% of Kistler-tiffany Companies’s portfolio.Curian Capital reduced its stake in CVS by selling 103,417 shares or 63.23% in the most recent quarter. The Hedge Fund company now holds 60,129 shares of CVS which is valued at $5,816,879. CVS Health Corp makes up approx 0.42% of Curian Capital’s portfolio.

CVS Health Corp closed down -0.22 points or -0.23% at $96.87 with 35,71,222 shares getting traded on Monday. Post opening the session at $97.44, the shares hit an intraday low of $96.7637 and an intraday high of $97.69 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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