Cardinal Health Inc. (CAH) Position Decreased by Commerce Bank
Commerce Bank cut its stake in shares of Cardinal Health Inc. (NYSE:CAH) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,782 shares of the company’s stock after selling 566 shares during the period. Commerce Bank’s holdings in Cardinal Health were worth $1,693,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CAH. Integrated Investment Consultants LLC increased its stake in Cardinal Health by 15.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,459 shares of the company’s stock valued at $114,000 after buying an additional 195 shares during the period. JFS Wealth Advisors LLC increased its stake in Cardinal Health by 8,281.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,760 shares of the company’s stock valued at $137,000 after buying an additional 1,739 shares during the period. Quadrant Capital Group LLC increased its stake in Cardinal Health by 2.4% in the third quarter. Quadrant Capital Group LLC now owns 1,906 shares of the company’s stock valued at $142,000 after buying an additional 44 shares during the period. Advisory Services Network LLC increased its stake in Cardinal Health by 398.2% in the second quarter. Advisory Services Network LLC now owns 1,948 shares of the company’s stock valued at $152,000 after buying an additional 1,557 shares during the period. Finally, Alpha Windward LLC increased its stake in Cardinal Health by 0.8% in the third quarter. Alpha Windward LLC now owns 2,133 shares of the company’s stock valued at $166,000 after buying an additional 16 shares during the period. Institutional investors own 84.54% of the company’s stock.
Shares of Cardinal Health Inc. (NYSE:CAH) traded up 0.65% during mid-day trading on Monday, reaching $71.57. The company had a trading volume of 3,038,685 shares. The company has a market capitalization of $22.91 billion, a P/E ratio of 17.33 and a beta of 0.73. The firm has a 50-day moving average of $71.75 and a 200-day moving average of $77.55. Cardinal Health Inc. has a 12-month low of $62.70 and a 12-month high of $91.23.
Cardinal Health (NYSE:CAH) last posted its earnings results on Monday, October 31st. The company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.03. The firm 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 company’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. On average, equities analysts anticipate that Cardinal Health Inc. will post $5.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Tuesday, January 3rd will be given a dividend of $0.4489 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, December 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 43.58%.
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CAH has been the topic of several recent research reports. Morgan Stanley reissued a “hold” rating and set a $91.00 price objective on shares of Cardinal Health in a report on Monday, September 12th. Robert W. Baird downgraded Cardinal Health from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $92.00 to $82.00 in a report on Friday, October 28th. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Barclays PLC set a $88.00 price objective on Cardinal Health and gave the company a “buy” rating in a report on Monday, November 14th. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $97.00 price objective on shares of Cardinal Health in a report on Tuesday, August 30th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $91.62.
In related news, Chairman George S. Barrett sold 217,995 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $48,635,891.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.94% of the company’s stock.
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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