Cardinal Health, Inc. (CAH) Stake Lowered by Macquarie Group Ltd.
Macquarie Group Ltd. reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,659,975 shares of the company’s stock after selling 208,144 shares during the period. Cardinal Health makes up 1.4% of Macquarie Group Ltd.’s portfolio, making the stock its 20th biggest holding. Macquarie Group Ltd. owned about 3.06% of Cardinal Health worth $752,705,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Cardinal Health by 1,041.8% in the first quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock worth $1,748,835,000 after buying an additional 19,566,764 shares in the last quarter. Franklin Resources Inc. boosted its stake in Cardinal Health by 72.1% during the second quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock valued at $489,613,000 after buying an additional 2,632,836 shares during the period. FMR LLC grew its position in Cardinal Health by 47.1% during the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock worth $482,391,000 after buying an additional 1,895,089 shares in the last quarter. Ameriprise Financial Inc. grew its position in Cardinal Health by 71.4% during the second quarter. Ameriprise Financial Inc. now owns 3,557,123 shares of the company’s stock worth $277,191,000 after buying an additional 1,482,285 shares in the last quarter. Finally, HealthCor Management L.P. purchased a new position in Cardinal Health during the second quarter worth about $84,496,000. 87.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the company. UBS AG reiterated a “neutral” rating and set a $76.00 price target (down previously from $79.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Evercore ISI restated an “outperform” rating on shares of Cardinal Health in a research report on Tuesday, July 4th. Zacks Investment Research raised shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Vetr upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 target price for the company in a research report on Tuesday, June 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a research report on Sunday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $76.81.
Cardinal Health, Inc. (NYSE:CAH) traded up 0.27% during trading on Wednesday, reaching $67.78. The company had a trading volume of 851,326 shares. The company has a market capitalization of $21.45 billion, a PE ratio of 16.82 and a beta of 0.86. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88. The firm’s 50 day moving average is $67.07 and its 200 day moving average is $73.63.
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 analysts’ consensus estimates of $1.24 by $0.07. The firm had revenue of $32.97 billion for the quarter, compared to the consensus estimate of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post $4.95 earnings per share 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 given a $0.4624 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 annualized dividend and a yield of 2.74%. Cardinal Health’s dividend payout ratio is currently 45.79%.
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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