Cardinal Health Inc. (CAH) Position Cut by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. reduced its stake in shares of Cardinal Health Inc. (NYSE:CAH) by 4.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 267,705 shares of the company’s stock after selling 12,478 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.08% of Cardinal Health worth $20,801,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Engineers Gate Manager LP boosted its stake in Cardinal Health by 165.6% in the second quarter. Engineers Gate Manager LP now owns 67,927 shares of the company’s stock valued at $5,299,000 after buying an additional 42,355 shares during the last quarter. Foster & Motley Inc. bought a new stake in Cardinal Health during the second quarter valued at $505,000. 1832 Asset Management L.P. boosted its stake in Cardinal Health by 57.3% in the second quarter. 1832 Asset Management L.P. now owns 427,017 shares of the company’s stock valued at $33,439,000 after buying an additional 155,512 shares during the last quarter. Royal Bank of Canada boosted its stake in 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 last quarter. Finally, Cincinnati Financial Corp boosted its stake in Cardinal Health by 79.0% in the second quarter. Cincinnati Financial Corp now owns 498,000 shares of the company’s stock valued at $38,849,000 after buying an additional 219,800 shares during the last quarter. Institutional investors and hedge funds own 88.19% of the company’s stock.
Shares of Cardinal Health Inc. (NYSE:CAH) traded down 1.21% during trading on Friday, hitting $70.77. 2,653,027 shares of the stock traded hands. The company has a market cap of $22.65 billion, a P/E ratio of 17.13 and a beta of 0.73. Cardinal Health Inc. has a 1-year low of $62.70 and a 1-year high of $91.23. The stock has a 50-day moving average of $73.51 and a 200 day moving average of $78.18.
Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, October 31st. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The company earned $32 billion during the quarter, compared to the consensus estimate of $31.12 billion. Cardinal Health had a net margin of 1.08% and a return on equity of 25.20%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 earnings per share. On average, equities research analysts predict that Cardinal Health Inc. will post $5.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Tuesday, January 3rd will be issued a $0.4489 dividend. The ex-dividend date is Thursday, December 29th. This represents a $1.80 annualized dividend and a dividend yield of 2.54%. Cardinal Health’s dividend payout ratio is currently 43.58%.
Several equities research analysts recently weighed in on CAH shares. Cleveland Research cut shares of Cardinal Health from a “buy” rating to a “neutral” rating in a research note on Monday, October 10th. Morgan Stanley reiterated a “hold” rating and issued a $91.00 target price on shares of Cardinal Health in a research note on Monday, September 12th. Goldman Sachs Group Inc. lowered shares of Cardinal Health from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $83.00 in a research report on Friday, September 16th. Bank of America Corp. reissued a “hold” rating and issued a $90.00 price target on shares of Cardinal Health in a research report on Monday, September 19th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $97.00 price target on shares of Cardinal Health in a research report on Tuesday, August 30th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $91.62.
In related news, Chairman George S. Barrett sold 217,995 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $71.29, for a total transaction of $15,540,863.55. Following the completion of the sale, the chairman now owns 682,226 shares in the company, valued at $48,635,891.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.94% of the stock is currently owned by insiders.
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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