Scharf Investments buys $217,696,715 stake in CVS Health Corp (CVS)

CVS Health Corp (CVS) : Scharf Investments scooped up 319,545 additional shares in CVS Health Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 2,234,391 shares of CVS Health Corp which is valued at $217,696,715.CVS Health Corp makes up approximately 4.60% of Scharf Investments’s portfolio.

Other Hedge Funds, Including , Ensemble Capital Management reduced its stake in CVS by selling 4,160 shares or 4.26% in the most recent quarter. The Hedge Fund company now holds 93,488 shares of CVS which is valued at $9,108,536. CVS Health Corp makes up approx 2.46% of Ensemble Capital Management’s portfolio.Choate Investment Advisors reduced its stake in CVS by selling 3,380 shares or 9.68% in the most recent quarter. The Hedge Fund company now holds 31,525 shares of CVS which is valued at $3,071,481. CVS Health Corp makes up approx 0.20% of Choate Investment Advisors’s portfolio.Financial Counselors Inc reduced its stake in CVS by selling 8,146 shares or 17.06% in the most recent quarter. The Hedge Fund company now holds 39,593 shares of CVS which is valued at $3,840,521. CVS Health Corp makes up approx 0.22% of Financial Counselors Inc’s portfolio.Cg Asset Management boosted its stake in CVS in the latest quarter, The investment management firm added 5,275 additional shares and now holds a total of 12,040 shares of CVS Health Corp which is valued at $1,116,469. CVS Health Corp makes up approx 0.43% of Cg Asset Management’s portfolio.Cribstone Capital Management boosted its stake in CVS in the latest quarter, The investment management firm added 503 additional shares and now holds a total of 17,907 shares of CVS Health Corp which is valued at $1,736,979. CVS Health Corp makes up approx 1.08% of Cribstone Capital Management’s portfolio.

CVS Health Corp closed down -0.18 points or -0.19% at $93.08 with 60,93,463 shares getting traded on Monday. Post opening the session at $93.42, the shares hit an intraday low of $92.44 and an intraday high of $93.55 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 $1.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.30. The company had revenue of $43725.00 million for the quarter, compared to analysts expectations of $44281.46 million. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS.

Many Wall Street Analysts have commented on CVS Health Corp. Company shares were Reiterated by Mizuho on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 111 from a previous price target of $108 .Company shares were Reiterated by Deutsche Bank on Aug 3, 2016 to “Hold”, Firm has raised the Price Target to $ 108 from a previous price target of $99 .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 .

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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