Searle adds CVS Health Corp (CVS) to its portfolio

CVS Health Corp (CVS) : Searle added new position in CVS Health Corp during the most recent quarter end. The investment management firm now holds 27,398 shares of CVS Health Corp which is valued at $2,378,968 , the company said in a statement filed on Oct 11, 2016 with the SEC.CVS Health Corp makes up approximately 2.07% of Searle’s portfolio.

Other Hedge Funds, Including , E&g Advisors Lp reduced its stake in CVS by selling 100 shares or 0.89% in the most recent quarter. The Hedge Fund company now holds 11,091 shares of CVS which is valued at $963,032. CVS Health Corp makes up approx 0.57% of E&g Advisors Lp’s portfolio.Arvest Bank Trust Division reduced its stake in CVS by selling 915 shares or 0.46% in the most recent quarter. The Hedge Fund company now holds 197,166 shares of CVS which is valued at $17,035,142. CVS Health Corp makes up approx 1.44% of Arvest Bank Trust Division’s portfolio.Lvm Capital Management Ltdmi reduced its stake in CVS by selling 45,106 shares or 85.04% in the most recent quarter. The Hedge Fund company now holds 7,936 shares of CVS which is valued at $684,083. CVS Health Corp makes up approx 0.22% of Lvm Capital Management Ltdmi’s portfolio.

CVS Health Corp closed down -0.43 points or -0.50% at $86.4 with 58,89,559 shares getting traded on Tuesday. Post opening the session at $86.55, the shares hit an intraday low of $85.41 and an intraday high of $86.8 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

Investors should note that on Sep 22, 2016, CVS Health Corp announced a cash dividend of $0.4250. The company’s management has announced Oct 20, 2016 as the ex-dividend date and fixed the record date on Oct 24, 2016. The payable date has been fixed on Nov 3, 2016.

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 .

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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