Meiji Yasuda Life Insurance Co buys $5 Million stake in CVS Health Corp (CVS)

CVS Health Corp (CVS) : Meiji Yasuda Life Insurance Co scooped up 2,470 additional shares in CVS Health Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 48,707 shares of CVS Health Corp which is valued at $5 Million.CVS Health Corp makes up approximately 0.80% of Meiji Yasuda Life Insurance Co’s portfolio.

Other Hedge Funds, Including , Paradigm Asset Management Co reduced its stake in CVS by selling 7,000 shares or 13.67% in the most recent quarter. The Hedge Fund company now holds 44,200 shares of CVS which is valued at $4.6 Million. CVS Health Corp makes up approx 0.86% of Paradigm Asset Management Co’s portfolio.Accident Compensation Corp boosted its stake in CVS in the latest quarter, The investment management firm added 48,300 additional shares and now holds a total of 75,900 shares of CVS Health Corp which is valued at $7.9 Million. CVS Health Corp makes up approx 2.17% of Accident Compensation Corp’s portfolio.New York State Common Retirement Fund boosted its stake in CVS in the latest quarter, The investment management firm added 175,600 additional shares and now holds a total of 3,731,954 shares of CVS Health Corp which is valued at $391.3 Million. CVS Health Corp makes up approx 0.60% of New York State Common Retirement Fund’s portfolio.Veritas Asset Management Llp boosted its stake in CVS in the latest quarter, The investment management firm added 14,600 additional shares and now holds a total of 4,368,629 shares of CVS Health Corp which is valued at $458.1 Million. CVS Health Corp makes up approx 5.72% of Veritas Asset Management Llp’s portfolio.Park Avenue Securities reduced its stake in CVS by selling 1,577 shares or 42.14% in the most recent quarter. The Hedge Fund company now holds 2,165 shares of CVS which is valued at $227,000. CVS Health Corp makes up approx 0.04% of Park Avenue Securities’s portfolio.

CVS Health Corp closed down -1.49 points or -1.48% at $99.46 with 1,05,25,511 shares getting traded on Friday. Post opening the session at $101.36, the shares hit an intraday low of $99.08 and an intraday high of $101.36 and the price fluctuated in this range throughout the day.Shares ended Friday 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. Company shares were Reiterated by Mizuho on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 117 from a previous price target of $104 .Company shares were Reiterated by RBC Capital Mkts on May 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 115 from a previous price target of $110 .Company shares were Reiterated by Barclays on Mar 10, 2016 to “Overweight”, Firm has raised the Price Target to $ 115 from a previous price target of $110 .

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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