Burney Co. Sells 7,433 Shares of Cardinal Health, Inc. (CAH)
Burney Co. lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,255 shares of the company’s stock after selling 7,433 shares during the period. Burney Co.’s holdings in Cardinal Health were worth $11,757,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised 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. BlackRock Inc. raised 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. State Street Corp raised its position in Cardinal Health by 1.1% in the first quarter. State Street Corp now owns 16,790,201 shares of the company’s stock valued at $1,369,247,000 after buying an additional 176,331 shares during the period. FMR LLC raised 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. Finally, Geode Capital Management LLC raised its position in Cardinal Health by 5.8% in the first quarter. Geode Capital Management LLC now owns 2,861,518 shares of the company’s stock valued at $232,999,000 after buying an additional 156,915 shares during the period. 87.66% of the stock is owned by institutional investors.
Shares of Cardinal Health, Inc. (NYSE:CAH) traded up 0.39% during trading on Friday, reaching $67.72. The company had a trading volume of 258,503 shares. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.88. The firm has a 50-day moving average of $71.01 and a 200-day moving average of $75.92. The company has a market cap of $21.43 billion, a P/E ratio of 16.80 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion during 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 company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. On average, equities research analysts anticipate that Cardinal Health, Inc. will post $4.96 EPS for the current year.
The business also recently declared 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. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio is currently 45.79%.
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CAH has been the subject of several recent research reports. Vetr lowered Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 target price for the company. in a report on Thursday, June 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $77.00 target price on shares of Cardinal Health in a report on Thursday, July 27th. ValuEngine lowered Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Evercore ISI reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Tuesday, July 4th. Finally, UBS AG reaffirmed a “neutral” rating and set a $76.00 target price (down from $79.00) on shares of Cardinal Health in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. Cardinal Health 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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