Seaward Management Limited Partnership Maintains Position in Cardinal Health Inc. (CAH)
Seaward Management Limited Partnership held its position in shares of Cardinal Health Inc. (NYSE:CAH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,307 shares of the company’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in Cardinal Health were worth $648,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CAH. Acrospire Investment Management LLC acquired a new position in shares of Cardinal Health during the first quarter valued at $107,000. Integrated Investment Consultants LLC raised its position in shares of Cardinal Health by 15.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,459 shares of the company’s stock valued at $114,000 after buying an additional 195 shares during the last quarter. JFS Wealth Advisors LLC raised its position in shares of Cardinal Health by 8,281.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,760 shares of the company’s stock valued at $137,000 after buying an additional 1,739 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Cardinal Health by 27.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,480 shares of the company’s stock valued at $193,000 after buying an additional 530 shares during the last quarter. Finally, Copper Rock Capital Partners LLC acquired a new position in shares of Cardinal Health during the second quarter valued at $205,000. Institutional investors own 86.16% of the company’s stock.
Cardinal Health Inc. (NYSE:CAH) traded up 0.92% during mid-day trading on Thursday, hitting $77.56. The stock had a trading volume of 2,468,298 shares. The stock has a market cap of $24.71 billion, a P/E ratio of 17.95 and a beta of 0.59. The company has a 50 day moving average price of $80.49 and a 200 day moving average price of $80.59. Cardinal Health Inc. has a one year low of $73.25 and a one year high of $91.23.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The business earned $31.40 billion during the quarter, compared to the consensus estimate of $31.06 billion. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. On average, equities analysts anticipate that Cardinal Health Inc. will post $5.60 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.4489 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.32%. Cardinal Health’s payout ratio is 41.67%.
Several brokerages recently weighed in on CAH. Citigroup Inc. increased their price objective on Cardinal Health from $87.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Raymond James Financial Inc. lowered Cardinal Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 1st. Leerink Swann restated a “buy” rating on shares of Cardinal Health in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Cardinal Health in a research report on Monday, June 13th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $94.76.
In other news, SVP Stuart G. Laws sold 9,703 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $82.45, for a total transaction of $800,012.35. Following the completion of the sale, the senior vice president now directly owns 2,718 shares in the company, valued at approximately $224,099.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman George S. Barrett sold 250,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $83.63, for a total value of $20,907,500.00. Following the sale, the chairman now owns 510,762 shares of the company’s stock, valued at $42,715,026.06. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States, the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers, hospitals and other healthcare providers.
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