Cardinal Health, Inc. (CAH) Holdings Trimmed by 1st Global Advisors Inc.
1st Global Advisors Inc. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,185 shares of the company’s stock after selling 1,055 shares during the period. 1st Global Advisors Inc.’s holdings in Cardinal Health were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of CAH. Victory Capital Management Inc. lifted its holdings in Cardinal Health by 15.7% during the first quarter. Victory Capital Management Inc. now owns 20,291 shares of the company’s stock worth $1,655,000 after acquiring an additional 2,760 shares in the last quarter. Comerica Securities Inc. lifted its holdings in Cardinal Health by 3.0% during the first quarter. Comerica Securities Inc. now owns 40,579 shares of the company’s stock worth $3,309,000 after acquiring an additional 1,190 shares in the last quarter. Sivik Global Healthcare LLC bought a new position in Cardinal Health during the first quarter worth about $2,854,000. Ariel Investments LLC lifted its holdings in Cardinal Health by 1,944.5% during the first quarter. Ariel Investments LLC now owns 746,789 shares of the company’s stock worth $60,901,000 after acquiring an additional 710,263 shares in the last quarter. Finally, Spark Investment Management LLC lifted its holdings in Cardinal Health by 21.2% during the first quarter. Spark Investment Management LLC now owns 127,700 shares of the company’s stock worth $10,413,000 after acquiring an additional 22,300 shares in the last quarter. Hedge funds and other institutional investors own 87.98% of the company’s stock.
Several research firms have weighed in on CAH. BidaskClub lowered Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Credit Suisse Group reduced their target price on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. Cowen and Company upgraded Cardinal Health to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a report on Thursday. Finally, UBS AG reiterated 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, ten have issued a hold rating and five have issued a buy rating to the company. Cardinal Health has an average rating of “Hold” and an average target price of $76.54.
Cardinal Health, Inc. (NYSE CAH) traded down 2.26% during mid-day trading on Friday, hitting $64.83. The company had a trading volume of 2,047,645 shares. The firm has a market capitalization of $20.52 billion, a PE ratio of 16.09 and a beta of 0.86. The company’s 50 day moving average price is $67.26 and its 200-day moving average price is $72.98. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The business had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, 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. 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 2.79%. Cardinal Health’s payout ratio is 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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