Capstone Asset Management Co. Lowers Stake in Cardinal Health, Inc. (NYSE:CAH)
Capstone Asset Management Co. decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 6.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 44,424 shares of the company’s stock after selling 3,239 shares during the period. Capstone Asset Management Co.’s holdings in Cardinal Health were worth $3,462,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Cardinal Health during the first quarter worth about $120,000. Quadrant Capital Group LLC boosted its stake in shares of Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock worth $156,000 after buying an additional 116 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of Cardinal Health by 1.8% in the first quarter. Alpha Windward LLC now owns 2,282 shares of the company’s stock worth $186,000 after buying an additional 41 shares during the last quarter. MCF Advisors LLC raised its position in shares of Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock worth $202,000 after buying an additional 256 shares during the period. Finally, First Mercantile Trust Co. raised its position in shares of Cardinal Health by 18.5% in the first quarter. First Mercantile Trust Co. now owns 2,539 shares of the company’s stock worth $207,000 after buying an additional 397 shares during the period. 87.09% of the stock is currently owned by institutional investors.
Cardinal Health, Inc. (CAH) opened at 69.24 on Tuesday. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.90. The company has a 50-day moving average of $77.38 and a 200 day moving average of $77.27. The company has a market cap of $21.88 billion, a P/E ratio of 17.18 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts forecast that Cardinal Health, Inc. will post $5.07 EPS for the current fiscal year.
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A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday. UBS AG reiterated a “neutral” rating and issued a $76.00 price target (down previously from $79.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Cowen and Company reiterated a “market perform” rating and issued a $77.00 price target (down previously from $82.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Finally, Credit Suisse Group decreased their price target on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Cardinal Health presently has an average rating of “Hold” and a consensus price target of $80.46.
In other news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the company’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 completion of the sale, the insider now owns 55,440 shares of the company’s stock, valued at approximately $4,039,912.80. The sale 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 corporate 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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