Aquatic Capital Management LLC Sells 31,654 Shares of Cardinal Health, Inc. $CAH

Key Points

• Aquatic Capital Management LLC cut its stake in Cardinal Health by 53.8%, selling 31,654 shares and leaving it with 27,218 shares worth about $4.27 million.
• Cardinal Health beat Q results (EPS $2.63 vs. $2.31 estimate; revenue $65.63B vs. $64.88B), with revenue up 18.8% YoY, and analysts have raised targets—consensus rating is a "Moderate Buy" with an average price target of $245.67.
• The company announced a quarterly dividend of $0.5107 (annualized $2.04, yield ~0.9%; ex-dividend April 1), and the stock is trading around the low-$200s (one-year range $120.72–$233.60).

Aquatic Capital Management LLC lessened its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 53.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 27,218 shares of the company's stock after selling 31,654 shares during the period. Aquatic Capital Management LLC's holdings in Cardinal Health were worth $4,272,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAH. SJS Investment Consulting Inc. lifted its stake in shares of Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company's stock valued at $25,000 after buying an additional 150 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in Cardinal Health by 55.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company's stock valued at $34,000 after acquiring an additional 71 shares in the last quarter. American Capital Advisory LLC boosted its stake in Cardinal Health by 5,200.0% during the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company's stock valued at $33,000 after purchasing an additional 208 shares during the last quarter. Quent Capital LLC acquired a new position in Cardinal Health during the 3rd quarter valued at about $35,000. Finally, AlphaCore Capital LLC purchased a new stake in shares of Cardinal Health in the second quarter worth approximately $41,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $217.65 on Tuesday. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $233.60. The firm has a market cap of $51.22 billion, a PE ratio of 31.32, a P/E/G ratio of 1.40 and a beta of 0.65. The stock has a fifty day moving average price of $217.07 and a 200-day moving average price of $192.98.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.31 by $0.32. The company had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm's quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 EPS. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health's payout ratio is presently 29.35%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAH. TD Cowen lifted their target price on Cardinal Health from $233.00 to $251.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. Argus increased their price target on Cardinal Health from $232.00 to $248.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. Jefferies Financial Group raised their price objective on Cardinal Health from $220.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 21st. Finally, Citigroup upgraded shares of Cardinal Health from a "neutral" rating to a "buy" rating and increased their target price for the company from $190.00 to $244.00 in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and an average price target of $245.67.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.