Parametric Portfolio Associates LLC Sells 41,335 Shares of Cardinal Health, Inc. (CAH)
Parametric Portfolio Associates LLC trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 695,631 shares of the company’s stock after selling 41,335 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.22% of Cardinal Health worth $46,552,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CAH. Steward Partners Investment Advisory LLC acquired a new stake in shares of Cardinal Health during the third quarter valued at about $102,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Cardinal Health by 31.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock valued at $123,000 after purchasing an additional 382 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Cardinal Health by 18.4% during the second quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after purchasing an additional 270 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Cardinal Health during the second quarter valued at about $164,000. Finally, Sun Life Financial INC boosted its stake in shares of Cardinal Health by 16,228.6% during the second quarter. Sun Life Financial INC now owns 2,286 shares of the company’s stock valued at $178,000 after purchasing an additional 2,272 shares in the last quarter. 88.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on CAH shares. Jefferies Group set a $77.00 price objective on Cardinal Health and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Cardinal Health in a research report on Sunday, September 10th. Robert W. Baird restated a “hold” rating and set a $73.00 price objective on shares of Cardinal Health in a research report on Sunday, September 17th. Royal Bank of Canada started coverage on Cardinal Health in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $72.00 price objective for the company. Finally, Cowen upgraded Cardinal Health to a “buy” rating and set a $74.00 price objective for the company in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and a consensus target price of $73.91.
Cardinal Health (NYSE:CAH) last issued its earnings results on Monday, November 6th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.09. The business had revenue of $32.64 billion during the quarter, compared to the consensus estimate of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. equities analysts anticipate that Cardinal Health, Inc. will post 4.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be issued a $0.4624 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.94%. Cardinal Health’s payout ratio is currently 53.78%.
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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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