Seven Bridges Advisors LLC Increases Stake in Cardinal Health, Inc. (CAH)
Seven Bridges Advisors LLC raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 35.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,937 shares of the company’s stock after buying an additional 2,620 shares during the period. Seven Bridges Advisors LLC’s holdings in Cardinal Health were worth $774,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. River Road Asset Management LLC increased its stake in Cardinal Health by 28.9% in the first quarter. River Road Asset Management LLC now owns 885,861 shares of the company’s stock valued at $72,242,000 after buying an additional 198,554 shares in the last quarter. Bank of Montreal Can boosted its position in Cardinal Health by 6.2% in the first quarter. Bank of Montreal Can now owns 609,732 shares of the company’s stock worth $49,725,000 after buying an additional 35,436 shares during the last quarter. CWM LLC boosted its position in Cardinal Health by 15.6% in the first quarter. CWM LLC now owns 331,531 shares of the company’s stock worth $27,036,000 after buying an additional 44,689 shares during the last quarter. Morgan Stanley boosted its position in Cardinal Health by 24.6% in the first quarter. Morgan Stanley now owns 2,035,339 shares of the company’s stock worth $165,981,000 after buying an additional 402,151 shares during the last quarter. Finally, Iowa State Bank boosted its position in Cardinal Health by 3.4% in the first quarter. Iowa State Bank now owns 20,569 shares of the company’s stock worth $1,677,000 after buying an additional 675 shares during the last quarter. Institutional investors own 87.09% of the company’s stock.
Cardinal Health, Inc. (NYSE:CAH) opened at 69.24 on Tuesday. Cardinal Health, Inc. has a 52-week low of $62.70 and a 52-week high of $84.90. The stock’s 50 day moving average is $77.38 and its 200 day moving average is $77.27. The company has a market cap of $21.88 billion, a price-to-earnings ratio of 17.18 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. On average, analysts predict that Cardinal Health, Inc. will post $5.00 earnings per share for the current fiscal year.
A number of research analysts have recently commented on CAH shares. Credit Suisse Group reissued a “buy” rating and set a $81.00 target price on shares of Cardinal Health in a research report on Tuesday, May 2nd. Vetr raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 target price on the stock in a research report on Tuesday, June 13th. BidaskClub cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. ValuEngine cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC started coverage on shares of Cardinal Health in a research report on Wednesday, May 17th. They set a “hold” rating and a $77.00 target price on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $80.46.
In other Cardinal Health 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 stock was sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the completion of the transaction, the insider now directly owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.94% of the stock is currently owned by company insiders.
Cardinal Health Company Profile
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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