Cardinal Health, Inc. (CAH) Shares Sold by AMP Capital Investors Ltd
AMP Capital Investors Ltd cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 18.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,084 shares of the company’s stock after selling 25,587 shares during the period. AMP Capital Investors Ltd’s holdings in Cardinal Health were worth $7,769,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. Nomura Asset Management Co. Ltd. lifted its position in Cardinal Health by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 51,240 shares of the company’s stock valued at $3,429,000 after buying an additional 2,500 shares in the last quarter. Baupost Group LLC MA lifted its position in Cardinal Health by 24.6% during the third quarter. Baupost Group LLC MA now owns 2,530,000 shares of the company’s stock valued at $169,308,000 after buying an additional 500,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Cardinal Health by 29.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 142,400 shares of the company’s stock valued at $9,570,000 after buying an additional 32,100 shares in the last quarter. Engineers Gate Manager LP lifted its position in Cardinal Health by 2,299.4% during the third quarter. Engineers Gate Manager LP now owns 90,842 shares of the company’s stock valued at $6,079,000 after buying an additional 87,056 shares in the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in Cardinal Health during the third quarter valued at approximately $2,583,000. 88.47% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on CAH shares. Morgan Stanley cut shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 20th. Argus cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. BidaskClub cut shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Mizuho set a $70.00 price target on shares of Cardinal Health and gave the company a “hold” rating in a research report on Tuesday, October 24th. Finally, Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.91.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $32.64 billion for the quarter, compared to analyst estimates of $33.48 billion. Cardinal Health had a net margin of 0.84% and a return on equity of 25.24%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. sell-side analysts forecast that Cardinal Health, Inc. will post 4.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.05%. Cardinal Health’s dividend payout ratio is currently 53.78%.
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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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