Peapack Gladstone Financial Corp Sells 1,750 Shares of Cardinal Health, Inc. (CAH)
Peapack Gladstone Financial Corp reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 37.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,957 shares of the company’s stock after selling 1,750 shares during the period. Peapack Gladstone Financial Corp’s holdings in Cardinal Health were worth $230,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alpha Windward LLC lifted its holdings in shares of Cardinal Health by 0.7% in the 2nd quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock worth $179,000 after purchasing an additional 17 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Cardinal Health by 0.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 4,321 shares of the company’s stock worth $353,000 after purchasing an additional 39 shares in the last quarter. Wetherby Asset Management Inc. lifted its holdings in shares of Cardinal Health by 0.5% in the 2nd quarter. Wetherby Asset Management Inc. now owns 8,392 shares of the company’s stock worth $654,000 after purchasing an additional 44 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Cardinal Health by 1.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,238 shares of the company’s stock worth $330,000 after purchasing an additional 51 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Cardinal Health by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,468 shares of the company’s stock worth $1,829,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 87.98% of the company’s stock.
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A number of equities analysts recently issued reports on CAH shares. Vetr upgraded Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 target price on the stock in a report on Tuesday, June 13th. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Evercore ISI reiterated an “outperform” rating on shares of Cardinal Health in a report on Tuesday, July 4th. BidaskClub cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $87.00 target price (up from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. 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 company’s stock. Cardinal Health has a consensus rating of “Hold” and a consensus price target of $76.81.
Shares of Cardinal Health, Inc. (CAH) traded down 2.60% during trading on Friday, reaching $65.88. The company’s stock had a trading volume of 3,661,819 shares. The firm has a market cap of $20.85 billion, a P/E ratio of 16.35 and a beta of 0.86. The stock’s 50 day moving average is $67.17 and its 200 day moving average is $73.43. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating 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 return on equity of 26.20% and a net margin of 0.99%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 earnings per share. On average, equities analysts forecast that Cardinal Health, Inc. will post $4.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s payout ratio is currently 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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