Cardinal Health, Inc. (CAH) Position Lowered by Pinnacle Associates Ltd.
Pinnacle Associates Ltd. decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,233 shares of the company’s stock after selling 1,623 shares during the period. Pinnacle Associates Ltd.’s holdings in Cardinal Health were worth $3,213,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CAH. Sheets Smith Wealth Management increased its holdings in Cardinal Health by 0.8% during the 2nd quarter. Sheets Smith Wealth Management now owns 36,800 shares of the company’s stock valued at $2,867,000 after acquiring an additional 300 shares in the last quarter. Morgan Stanley increased its holdings in Cardinal Health by 24.6% during the 1st quarter. Morgan Stanley now owns 2,035,339 shares of the company’s stock valued at $165,981,000 after acquiring an additional 402,151 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Cardinal Health by 40.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 49,607 shares of the company’s stock valued at $3,865,000 after acquiring an additional 14,228 shares in the last quarter. Park National Corp OH increased its holdings in Cardinal Health by 2.0% during the 2nd quarter. Park National Corp OH now owns 5,983 shares of the company’s stock valued at $466,000 after acquiring an additional 120 shares in the last quarter. Finally, Capital One National Association increased its holdings in Cardinal Health by 2.9% during the 2nd quarter. Capital One National Association now owns 12,334 shares of the company’s stock valued at $961,000 after acquiring an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
Several equities analysts have weighed in on CAH shares. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Credit Suisse Group restated an “outperform” rating and set a $87.00 target price (up from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. Jefferies Group LLC started coverage on shares of Cardinal Health in a report on Wednesday, May 17th. They set a “hold” rating and a $77.00 target price for the company. ValuEngine downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Vetr downgraded shares of 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. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Cardinal Health has an average rating of “Hold” and a consensus price target of $80.46.
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Shares of Cardinal Health, Inc. (NYSE CAH) opened at 67.82 on Monday. The stock’s 50 day moving average is $70.74 and its 200-day moving average is $75.84. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88. The stock has a market capitalization of $21.46 billion, a P/E ratio of 16.83 and a beta of 0.85.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $32.73 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts expect that Cardinal Health, Inc. will post $4.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio is presently 45.79%.
Cardinal Health Company Profile
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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