Cardinal Health Inc (CAH) Stake Maintained by Cincinnati Specialty Underwriters Insurance CO
Cincinnati Specialty Underwriters Insurance CO continued to hold its position in shares of Cardinal Health Inc (NYSE:CAH) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,500 shares of the company’s stock at the end of the first quarter. Cardinal Health accounts for 2.9% of Cincinnati Specialty Underwriters Insurance CO’s investment portfolio, making the stock its 12th largest position. Cincinnati Specialty Underwriters Insurance CO’s holdings in Cardinal Health were worth $3,140,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Spark Investment Management LLC raised its position in shares of Cardinal Health by 151.6% in the third quarter. Spark Investment Management LLC now owns 105,400 shares of the company’s stock valued at $8,189,000 after buying an additional 63,500 shares during the last quarter. Country Trust Bank raised its position in shares of Cardinal Health by 23.0% in the third quarter. Country Trust Bank now owns 266,060 shares of the company’s stock valued at $20,673,000 after buying an additional 49,744 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of Cardinal Health by 4.3% in the third quarter. WINTON GROUP Ltd now owns 675,199 shares of the company’s stock valued at $52,463,000 after buying an additional 27,542 shares during the last quarter. Cincinnati Financial Corp raised its position in shares of Cardinal Health by 19.6% in the third quarter. Cincinnati Financial Corp now owns 595,500 shares of the company’s stock valued at $46,270,000 after buying an additional 97,500 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Cardinal Health by 35.2% in the third quarter. LSV Asset Management now owns 4,227,690 shares of the company’s stock valued at $328,491,000 after buying an additional 1,099,900 shares during the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.
Cardinal Health Inc (NYSE:CAH) traded down 0.46% during midday trading on Monday, hitting $73.10. 1,245,611 shares of the stock traded hands. The firm has a market cap of $23.09 billion, a P/E ratio of 17.45 and a beta of 0.71. The company has a 50-day moving average price of $74.50 and a 200-day moving average price of $75.69. Cardinal Health Inc has a 1-year low of $62.70 and a 1-year high of $85.52.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, May 1st. The company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.07. Cardinal Health had a net margin of 1.06% and a return on equity of 25.52%. The company had revenue of $31.82 billion for the quarter, compared to analyst estimates of $32.30 billion. During the same quarter last year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts predict that Cardinal Health Inc will post $5.35 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Monday, July 3rd will be given a dividend of $0.4624 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.53%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.45. Cardinal Health’s payout ratio is 43.17%.
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Several research analysts have weighed in on CAH shares. Credit Suisse Group AG restated a “buy” rating and set a $81.00 target price on shares of Cardinal Health in a research report on Tuesday, May 2nd. Leerink Swann set a $81.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a research report on Wednesday, February 8th. Needham & Company LLC started coverage on shares of Cardinal Health in a research report on Tuesday, April 4th. They set a “hold” rating on the stock. Jefferies Group LLC started coverage on shares of Cardinal Health in a research report on Wednesday, May 17th. They set a “hold” rating and a $77.00 target price on the stock. Finally, William Blair lowered shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $82.71.
In other Cardinal Health news, CEO Jon L. Giacomin sold 23,270 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the sale, the chief executive officer now owns 55,440 shares of the company’s stock, valued at approximately $4,039,912.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.94% of the company’s stock.
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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