Sentry Investment Management LLC Continues to Hold Stake in Cardinal Health Inc. (CAH)
Sentry Investment Management LLC held its position in Cardinal Health Inc. (NYSE:CAH) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,074 shares of the company’s stock at the end of the third quarter. Sentry Investment Management LLC’s holdings in Cardinal Health were worth $1,948,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Charlemagne Capital Ltd. increased its position in Cardinal Health by 0.4% in the second quarter. Charlemagne Capital Ltd. now owns 2,527 shares of the company’s stock worth $196,000 after buying an additional 10 shares during the period. Alpha Windward LLC increased its position in Cardinal Health by 0.8% in the third quarter. Alpha Windward LLC now owns 2,133 shares of the company’s stock worth $166,000 after buying an additional 16 shares during the period. Bridgewater Wealth & Financial Management LLC increased its position in Cardinal Health by 0.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 6,561 shares of the company’s stock worth $512,000 after buying an additional 19 shares during the period. Conning Inc. increased its position in Cardinal Health by 0.3% in the second quarter. Conning Inc. now owns 7,980 shares of the company’s stock worth $623,000 after buying an additional 20 shares during the period. Finally, Synovus Financial Corp increased its position in Cardinal Health by 0.5% in the second quarter. Synovus Financial Corp now owns 4,385 shares of the company’s stock worth $346,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 84.54% of the company’s stock.
Shares of Cardinal Health Inc. (NYSE:CAH) traded down 0.81% during trading on Tuesday, reaching $70.99. The company had a trading volume of 4,099,165 shares. The stock has a market capitalization of $22.72 billion, a price-to-earnings ratio of 17.18 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 company’s 50 day moving average is $71.75 and its 200-day moving average is $77.55.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, October 31st. The company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.03. Cardinal Health had a net margin of 1.08% and a return on equity of 25.20%. The business had revenue of $32 billion for the quarter, compared to analyst estimates of $31.12 billion. During the same period in the previous year, the company earned $1.38 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities research analysts anticipate that Cardinal Health Inc. will post $5.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Tuesday, January 3rd will be issued a $0.4489 dividend. This represents a $1.80 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, December 29th. Cardinal Health’s dividend payout ratio is currently 43.58%.
A number of research analysts have weighed in on CAH shares. Deutsche Bank AG upped their price target on Cardinal Health from $83.00 to $89.00 and gave the stock a “hold” rating in a research note on Thursday, August 4th. Leerink Swann restated an “outperform” rating and issued a $80.00 price target (down previously from $95.00) on shares of Cardinal Health in a research note on Wednesday, November 2nd. Barclays PLC set a $88.00 price target on Cardinal Health and gave the stock a “buy” rating in a research note on Monday, November 14th. Citigroup Inc. upped their price target on Cardinal Health from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cardinal Health presently has an average rating of “Buy” and an average price target of $91.62.
In other Cardinal Health news, Chairman George S. Barrett sold 217,995 shares of Cardinal Health stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $71.29, for a total value of $15,540,863.55. Following the transaction, the chairman now directly owns 682,226 shares of the company’s stock, valued at $48,635,891.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is currently owned by company 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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