Harbour Capital Advisors LLC Acquires 291,371 Shares of Cardinal Health, Inc. (NYSE:CAH)

Harbour Capital Advisors LLC raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 6,166.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 296,096 shares of the company’s stock after buying an additional 291,371 shares during the period. Harbour Capital Advisors LLC owned 0.09% of Cardinal Health worth $3,800,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CAH. IBM Retirement Fund raised its position in shares of Cardinal Health by 112.6% in the second quarter. IBM Retirement Fund now owns 7,729 shares of the company’s stock valued at $673,000 after buying an additional 4,093 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cardinal Health during the second quarter valued at $2,036,000. Strs Ohio raised its position in shares of Cardinal Health by 93.3% in the second quarter. Strs Ohio now owns 373,050 shares of the company’s stock valued at $29,068,000 after buying an additional 180,103 shares during the last quarter. Kwmg LLC raised its position in shares of Cardinal Health by 15.8% in the second quarter. Kwmg LLC now owns 20,418 shares of the company’s stock valued at $1,591,000 after buying an additional 2,793 shares during the last quarter. Finally, Aviance Capital Partners LLC raised its position in shares of Cardinal Health by 8.3% in the second quarter. Aviance Capital Partners LLC now owns 9,197 shares of the company’s stock valued at $717,000 after buying an additional 707 shares during the last quarter. 87.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cardinal Health, Inc. (NYSE:CAH) opened at 70.99 on Thursday. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.90. The stock has a 50 day moving average of $77.38 and a 200 day moving average of $77.27. The firm has a market cap of $22.42 billion, a P/E ratio of 16.95 and a beta of 0.80.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. The company had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast that Cardinal Health, Inc. will post $5.35 earnings per share for the current year.

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Several equities analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $77.00 price objective on shares of Cardinal Health in a research report on Thursday, July 27th. BidaskClub lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Credit Suisse Group reaffirmed an “outperform” rating and set a $87.00 price objective (up previously from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. Evercore ISI reaffirmed an “outperform” rating on shares of Cardinal Health in a research report on Tuesday, July 4th. Finally, Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $82.99.

In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $72.87, for a total value of $1,695,684.90. Following the sale, the insider now owns 55,440 shares in the company, valued at approximately $4,039,912.80. The transaction 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 corporate 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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