Trade Report: The Sequoia Financial Advisors LLC Increases Stake in Cardinal Health Inc. (CAH)

The Sequoia Financial Advisors LLC Increases Stake in Cardinal Health Inc. (CAH)

Sequoia Financial Advisors LLC increased its stake in shares of Cardinal Health Inc. (NYSE:CAH) by 13.6% during the second quarter, Holdings Channel reports. The firm owned 28,116 shares of the company’s stock after buying an additional 3,370 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cardinal Health were worth $2,193,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Cardinal Health by 2.8% in the first quarter. Royal Bank of Canada now owns 1,927,963 shares of the company’s stock valued at $157,997,000 after buying an additional 52,912 shares during the period. Origin Asset Management LLP increased its position in shares of Cardinal Health by 75.1% in the first quarter. Origin Asset Management LLP now owns 377,381 shares of the company’s stock valued at $30,926,000 after buying an additional 161,881 shares during the period. HealthInvest Partners AB acquired a new position in shares of Cardinal Health during the second quarter valued at $12,482,000. PGGM Investments increased its position in shares of Cardinal Health by 56.8% in the second quarter. PGGM Investments now owns 860,610 shares of the company’s stock valued at $67,136,000 after buying an additional 311,842 shares during the period. Finally, HBK Investments L P acquired a new position in shares of Cardinal Health during the first quarter valued at $3,802,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Shares of Cardinal Health Inc. (NYSE:CAH) traded down 0.41% on Monday, reaching $74.96. The company’s stock had a trading volume of 1,050,142 shares. Cardinal Health Inc. has a 1-year low of $73.25 and a 1-year high of $91.23. The stock has a market capitalization of $23.88 billion, a P/E ratio of 17.35 and a beta of 0.64. The company has a 50 day moving average of $77.64 and a 200 day moving average of $79.99.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.01. The business had revenue of $31.40 billion for the quarter, compared to analyst estimates of $31.06 billion. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. Equities research analysts expect that Cardinal Health Inc. will post $5.59 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd were issued a $0.4489 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, September 29th. Cardinal Health’s payout ratio is currently 41.67%.

Several equities analysts recently weighed in on the stock. Deutsche Bank AG increased their price target on shares of Cardinal Health from $83.00 to $89.00 and gave the stock a “hold” rating in a report on Thursday, August 4th. Leerink Swann reiterated a “buy” rating on shares of Cardinal Health in a report on Wednesday, August 3rd. FBR & Co reiterated a “buy” rating on shares of Cardinal Health in a report on Monday, June 20th. Citigroup Inc. increased their price target on shares of Cardinal Health from $87.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $94.76.

In other news, CEO George S. Barrett sold 129,818 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $83.76, for a total value of $10,873,555.68. Following the transaction, the chief executive officer now owns 510,762 shares of the company’s stock, valued at $42,781,425.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stuart G. Laws sold 9,703 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $82.45, for a total value of $800,012.35. Following the completion of the transaction, the senior vice president now directly owns 2,718 shares in the company, valued at approximately $224,099.10. The disclosure for this sale can be found here. 0.94% of the stock is owned by insiders.

About Cardinal Health

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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