Seaward Management Limited Partnership Sells 4,896 Shares of Cardinal Health, Inc. (NYSE:CAH)
Seaward Management Limited Partnership cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 60.2% during the second quarter, Holdings Channel reports. The institutional investor owned 3,236 shares of the company’s stock after selling 4,896 shares during the period. Seaward Management Limited Partnership’s holdings in Cardinal Health were worth $252,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in CAH. HL Financial Services LLC raised its stake in Cardinal Health by 1.1% in the second quarter. HL Financial Services LLC now owns 12,017 shares of the company’s stock valued at $936,000 after buying an additional 130 shares in the last quarter. Seven Bridges Advisors LLC raised its stake in Cardinal Health by 35.8% in the second quarter. Seven Bridges Advisors LLC now owns 9,937 shares of the company’s stock valued at $774,000 after buying an additional 2,620 shares in the last quarter. Advisor Partners LLC raised its stake in Cardinal Health by 8.7% in the second quarter. Advisor Partners LLC now owns 7,353 shares of the company’s stock valued at $573,000 after buying an additional 589 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in Cardinal Health by 282.1% in the second quarter. Cullen Frost Bankers Inc. now owns 55,085 shares of the company’s stock valued at $4,292,000 after buying an additional 40,667 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in Cardinal Health by 0.3% in the second quarter. Retirement Systems of Alabama now owns 248,757 shares of the company’s stock valued at $19,383,000 after buying an additional 671 shares in the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.
Cardinal Health, Inc. (NYSE CAH) opened at 68.23 on Thursday. The firm has a market cap of $21.56 billion, a P/E ratio of 16.93 and a beta of 0.80. Cardinal Health, Inc. has a 1-year low of $62.70 and a 1-year high of $84.88. The stock’s 50 day moving average is $76.30 and its 200-day moving average is $76.98.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same period last year, the company posted $1.14 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts forecast that Cardinal Health, Inc. will post $5.00 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 2.71%. Cardinal Health’s payout ratio is presently 45.79%.
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Several research firms recently commented on CAH. UBS AG reiterated a “neutral” rating and issued a $76.00 price objective (down from $79.00) on shares of Cardinal Health in a research report on Wednesday. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Monday. BidaskClub lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Cowen and Company reiterated a “market perform” rating and issued a $77.00 price objective (down from $82.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Finally, Credit Suisse Group decreased their price objective on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $80.46.
In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 55,440 shares in the company, valued at approximately $4,039,912.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.94% of the company’s stock.
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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