Geneva Advisors LLC Sells 51 Shares of Cardinal Health, Inc. (CAH)
Geneva Advisors LLC cut its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,838 shares of the company’s stock after selling 51 shares during the period. Geneva Advisors LLC’s holdings in Cardinal Health were worth $533,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Cardinal Health by 4.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 51,326 shares of the company’s stock worth $4,186,000 after buying an additional 1,996 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Cardinal Health during the first quarter worth approximately $120,000. Advisor Partners LLC increased its position in shares of Cardinal Health by 16.0% in the first quarter. Advisor Partners LLC now owns 6,764 shares of the company’s stock worth $552,000 after buying an additional 935 shares in the last quarter. Camelot Portfolios LLC acquired a new position in shares of Cardinal Health during the first quarter worth approximately $351,000. Finally, Cottage Street Advisors LLC increased its position in shares of Cardinal Health by 2.3% in the first quarter. Cottage Street Advisors LLC now owns 13,350 shares of the company’s stock worth $1,088,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 87.66% of the company’s stock.
Cardinal Health, Inc. (NYSE:CAH) opened at 66.49 on Thursday. The company has a market cap of $21.04 billion, a P/E ratio of 16.50 and a beta of 0.80. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.88. The firm’s 50-day moving average price is $72.15 and its 200-day moving average price is $76.23.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The business had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. Analysts expect that Cardinal Health, Inc. will post $4.96 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be given a dividend of $0.4624 per share. The ex-dividend date is Friday, September 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.78%. Cardinal Health’s dividend payout ratio is 45.79%.
A number of research analysts recently commented on the company. Jefferies Group LLC set a $77.00 price target on Cardinal Health and gave the company a “hold” rating in a report on Tuesday. BidaskClub downgraded Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. UBS AG reissued 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 downgraded Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Finally, Cowen and Company reissued 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. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus 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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