Cardinal Health, Inc. (CAH) Shares Sold by Charter Trust Co.
Charter Trust Co. lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,165 shares of the company’s stock after selling 165 shares during the period. Charter Trust Co.’s holdings in Cardinal Health were worth $480,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC bought a new position in Cardinal Health during the first quarter worth $120,000. Quadrant Capital Group LLC increased its position 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 in the last quarter. Alpha Windward LLC increased its position 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 in the last quarter. MCF Advisors LLC increased 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 in the last quarter. Finally, First Mercantile Trust Co. increased 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 in the last quarter. Institutional investors own 87.09% of the company’s stock.
Cardinal Health, Inc. (NYSE: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 stock has a 50 day moving average of $77.38 and a 200 day moving average of $77.27. The stock has a market capitalization of $21.88 billion, a P/E ratio of 17.18 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, equities research analysts forecast that Cardinal Health, Inc. will post $5.07 EPS for the current year.
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A number of brokerages have recently commented on CAH. UBS AG reissued a “neutral” rating and issued a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Credit Suisse Group reaffirmed an “outperform” rating and set a $87.00 price target (up from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. Barclays PLC reaffirmed an “overweight” rating and set a $82.00 price target (down from $88.00) on shares of Cardinal Health in a report on Saturday, April 22nd. William Blair lowered shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. Finally, BidaskClub lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $80.46.
In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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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