Scharf Investments buys $198.5 Million stake in CVS Health Corp (CVS)

CVS Health Corp (CVS) : Scharf Investments scooped up 76,797 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 13, 2016. The investment management firm now holds a total of 1,914,846 shares of CVS Health Corp which is valued at $198.5 Million.CVS Health Corp makes up approximately 4.58% of Scharf Investments’s portfolio.

Other Hedge Funds, Including , Srb Corp added CVS to its portfolio by purchasing 1,426 company shares during the most recent quarter which is valued at $147,833. CVS Health Corp makes up approx 0.02% of Srb Corp’s portfolio.Her Majesty The Queen In Right Of The Province Of Alberta… boosted its stake in CVS in the latest quarter, The investment management firm added 126,000 additional shares and now holds a total of 166,800 shares of CVS Health Corp which is valued at $17.3 Million. CVS Health Corp makes up approx 0.26% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio. Barrow Hanley Mewhinney Strauss sold out all of its stake in CVS during the most recent quarter. The investment firm sold 368,897 shares of CVS which is valued $38.2 Million.Cadence Bank Na boosted its stake in CVS in the latest quarter, The investment management firm added 1,527 additional shares and now holds a total of 13,925 shares of CVS Health Corp which is valued at $1.5 Million. CVS Health Corp makes up approx 0.75% of Cadence Bank Na’s portfolio.Armbruster Capital Management boosted its stake in CVS in the latest quarter, The investment management firm added 780 additional shares and now holds a total of 3,750 shares of CVS Health Corp which is valued at $393,188. CVS Health Corp makes up approx 0.27% of Armbruster Capital Management’s portfolio.

CVS Health Corp opened for trading at $97.61 and hit $98.23 on the upside on Wednesday, eventually ending the session at $97.55, with a gain of 0.17% or 0.17 points. The heightened volatility saw the trading volume jump to 71,21,759 shares. Company has a market cap of $104,771 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. 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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