Cardinal Health, Inc. (CAH) Shares Sold by Cadence Capital Management LLC
Cadence Capital Management LLC decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 60,127 shares of the company’s stock after selling 2,616 shares during the period. Cadence Capital Management LLC’s holdings in Cardinal Health were worth $4,685,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of CAH. BlackRock Inc. boosted its position in Cardinal Health by 1,041.8% in the first quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock valued at $1,748,835,000 after buying an additional 19,566,764 shares during the period. FMR LLC boosted its position in Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock valued at $482,391,000 after buying an additional 1,895,089 shares during the period. Pzena Investment Management LLC purchased a new position in Cardinal Health during the first quarter valued at approximately $86,386,000. Vanguard Group Inc. boosted its position in Cardinal Health by 3.8% in the first quarter. Vanguard Group Inc. now owns 23,201,310 shares of the company’s stock valued at $1,892,067,000 after buying an additional 843,212 shares during the period. Finally, Ariel Investments LLC boosted its position in Cardinal Health by 1,944.5% in the first quarter. Ariel Investments LLC now owns 746,789 shares of the company’s stock valued at $60,901,000 after buying an additional 710,263 shares during the period. 86.41% of the stock is owned by institutional investors and hedge funds.
Cardinal Health, Inc. (NYSE:CAH) traded down 0.50% during midday trading on Monday, hitting $64.06. The stock had a trading volume of 115,327 shares. The company’s 50 day moving average is $73.76 and its 200 day moving average is $76.57. The company has a market cap of $20.27 billion, a price-to-earnings ratio of 15.90 and a beta of 0.80. Cardinal Health, Inc. has a 1-year low of $62.70 and a 1-year high of $84.88.
Cardinal Health (NYSE:CAH) last posted its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that Cardinal Health, Inc. will post $4.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be issued a $0.4624 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.87%. Cardinal Health’s dividend payout ratio is presently 45.79%.
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Several research firms have commented on CAH. BidaskClub cut Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. UBS AG reaffirmed a “neutral” rating and issued a $76.00 price target (down previously from $79.00) on shares of Cardinal Health in a report on Wednesday, August 9th. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Cowen and Company reaffirmed a “market perform” rating and issued a $77.00 price target (down previously from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Finally, Credit Suisse Group cut their price target on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $80.46.
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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