Cardinal Health, Inc. (CAH) Shares Sold by Acadian Asset Management LLC
Acadian Asset Management LLC decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 85.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,944 shares of the company’s stock after selling 360,197 shares during the period. Acadian Asset Management LLC’s holdings in Cardinal Health were worth $4,750,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Cardinal Health during the first quarter valued at approximately $120,000. Quadrant Capital Group LLC increased its position in shares of Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock valued at $156,000 after buying an additional 116 shares in the last quarter. Alpha Windward LLC increased its position in shares of Cardinal Health by 1.8% in the first quarter. Alpha Windward LLC now owns 2,282 shares of the company’s stock valued at $186,000 after buying an additional 41 shares in the last quarter. MCF Advisors LLC increased its position in shares of Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock valued at $202,000 after buying an additional 256 shares in the last quarter. Finally, First Mercantile Trust Co. increased its position in shares of Cardinal Health by 18.5% in the first quarter. First Mercantile Trust Co. now owns 2,539 shares of the company’s stock valued at $207,000 after buying an additional 397 shares in the last quarter. Institutional investors and hedge funds own 87.31% of the company’s stock.
Shares of Cardinal Health, Inc. (CAH) traded down 0.78% during mid-day trading on Friday, reaching $68.82. 1,113,551 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $77.38 and a 200-day moving average price of $77.27. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.90. The stock has a market cap of $21.75 billion, a PE ratio of 17.08 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. On average, analysts predict that Cardinal Health, Inc. will post $5.07 EPS for the current year.
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Several research analysts have commented on the stock. Credit Suisse Group lowered their price objective on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a research report on Thursday. UBS AG restated a “neutral” rating and set a $76.00 price objective (down from $79.00) on shares of Cardinal Health in a research report on Thursday. Jefferies Group LLC restated a “hold” rating and set a $77.00 price objective on shares of Cardinal Health in a research report on Thursday, July 27th. Cowen and Company restated a “market perform” rating and set a $77.00 price objective (down from $82.00) on shares of Cardinal Health in a research report on Thursday. Finally, BidaskClub downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $81.07.
In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of Cardinal Health stock in a transaction on Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the transaction, the insider now owns 55,440 shares in the company, valued at approximately $4,039,912.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.94% of the stock is owned by company insiders.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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