Great Diamond Partners LLC, a prominent investment firm, recently announced its acquisition of a new position in Cardinal Health, Inc. (NYSE:CAH) during the second quarter of this year. According to the company’s latest Form 13F filing with the Securities and Exchange Commission, Great Diamond Partners LLC purchased 5,214 shares of Cardinal Health’s stock, valued at approximately $493,000.
Cardinal Health is a leading healthcare services company that provides pharmaceutical products and solutions to various healthcare providers globally. The company focuses on offering innovative solutions to help improve patient care and operational efficiency within the healthcare industry.
In its most recent earnings report released on August 15th, Cardinal Health exceeded expectations by reporting $1.55 in earnings per share (EPS) for the quarter. This figure surpassed the consensus estimate by $0.06, showcasing the company’s strong performance during that period.
Despite a net margin of only 0.13% and a negative return on equity of 67.01%, Cardinal Health managed to achieve impressive revenue of $53.45 billion for the quarter. This marked an increase of 13.5% compared to the same period in the previous year and surpassed analyst estimates of $52.72 billion.
Industry experts anticipate that Cardinal Health will continue its positive momentum and estimate that it will post 6.65 earnings per share for the current fiscal year. With its focus on delivering high-quality healthcare solutions and strong financial performance, Cardinal Health remains an attractive investment option for shareholders.
The recent acquisition by Great Diamond Partners LLC indicates confidence in Cardinal Health’s potential for future growth and value creation within the healthcare sector. As an investment firm with considerable expertise in identifying promising companies, Great Diamond Partners LLC’s decision to acquire shares further validates Cardinal Health’s position as a competitive player in the industry.
Investors and analysts will closely monitor Cardinal Health’s future developments and financial results as they assess its long-term prospects. As the company continues to innovate and adapt to evolving market trends, it is poised to navigate the challenges and opportunities in the dynamic healthcare landscape effectively.
Overall, the acquisition of Cardinal Health’s shares by Great Diamond Partners LLC highlights the recognition of the company’s solid performance and growth potential. With its commitment to improving patient outcomes and delivering value to stakeholders, Cardinal Health remains a key player in the healthcare industry.
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Interest from Large Investors: A Closer Look at Cardinal Health’s Prospects
Cardinal Health, a leading healthcare services and products company, has recently seen interest from large investors. Various institutional investors have been buying and selling shares of the company, indicating a certain degree of confidence or hesitancy in its prospects.
Some notable investors include Delta Asset Management LLC TN, which purchased a new position in Cardinal Health during the fourth quarter of the previous year. The investment was worth approximately $25,000. Similarly, Gradient Investments LLC increased its position in the company by 106.7% during the second quarter, now owning 277 shares valued at $26,000 after acquiring an additional 143 shares.
Benjamin Edwards Inc. entered the fray during the first quarter with a new position worth $27,000. Subsequently, Retirement Group LLC significantly increased its position by 1,539.3% during the fourth quarter. They now own 459 shares worth $35,000 after purchasing an additional 431 shares in the last quarter. Lastly, GPS Wealth Strategies Group LLC acquired a new position during the first quarter worth $38,000.
Institutional investors currently possess an impressive 86.01% of Cardinal Health’s stock. This level of ownership speaks to their confidence in the company’s ability to deliver profitable results and maintain stability.
Equities analysts have also been weighing in on Cardinal Health’s performance recently. TheStreet downgraded their rating on Cardinal Health from “b-” to “c” in August this year. Likewise, Morgan Stanley gave the stock an “overweight” rating while upping their price target from $92.00 to $100.00.
TD Cowen boosted their price objective to $90.00 with a “market perform” rating whereas Bank of America increased their price objective to $99.00 for Cardinal Health’s stock as well.
Robert W. Baird provided further commendation with an “outperform” rating and raised their price target from $107.00 to $108.00, reflecting a positive outlook for the company.
With eight analysts giving a hold rating, three issuing a buy rating, and one giving it a strong buy rating, Bloomberg.com’s data indicates that Cardinal Health currently maintains an average consensus rating of “Hold” with an average price target of $94.69.
In other news, CEO Deborah Weitzman sold 6,712 shares of Cardinal Health stock on August 28th at an average price of $89.81 per share. This resulted in a total transaction value of $602,804.72. Following this sale, Weitzman now holds 44,202 shares valued at $3,969,781.62.
Additionally, insider Jessica L. Mayer sold 30,145 shares on August 16th at an average price of $90.84 per share.
As for Cardinal Health’s stock performance on the market itself (NYSE:CAH), it opened at $89.19 on September 26th.
Over the past year, Cardinal Health has experienced some volatility in its stock price with a low of $65.43 and a high of $95.45.
The company currently boasts a market capitalization of $22.36 billion and has a relatively high price-to-earnings ratio of 90.09 and a PEG ratio of 0.93.
