Brown Advisory Inc. acquired a new position in Cardinal Health Inc. (NYSE:CAH) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 18,658 shares of the company’s stock, valued at approximately $1,456,000.
A number of other large investors have also made changes to their positions in the company. Acrospire Investment Management LLC acquired a new stake in shares of Cardinal Health during the first quarter worth approximately $107,000. Integrated Investment Consultants LLC raised its stake in shares of Cardinal Health by 15.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,459 shares of the company’s stock worth $114,000 after buying an additional 195 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Cardinal Health by 8,281.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,760 shares of the company’s stock worth $137,000 after buying an additional 1,739 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Cardinal Health by 398.2% in the second quarter. Advisory Services Network LLC now owns 1,948 shares of the company’s stock worth $152,000 after buying an additional 1,557 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Cardinal Health by 27.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,480 shares of the company’s stock worth $193,000 after buying an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 86.16% of the company’s stock.
Shares of Cardinal Health Inc. (NYSE:CAH) traded down 0.66% during mid-day trading on Monday, reaching $77.15. The company had a trading volume of 424,274 shares. The stock has a market capitalization of $24.58 billion, a P/E ratio of 17.86 and a beta of 0.59. The firm’s 50 day moving average is $80.32 and its 200-day moving average is $80.54. Cardinal Health Inc. has a 12-month low of $73.25 and a 12-month high of $91.23.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. The business had revenue of $31.40 billion for the quarter, compared to analyst estimates of $31.06 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, analysts expect that Cardinal Health Inc. will post $5.60 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.4489 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 41.67%.
CAH has been the subject of a number of research reports. Goldman Sachs Group Inc. restated a “buy” rating on shares of Cardinal Health in a research report on Wednesday, July 6th. Leerink Swann reiterated a “buy” rating on shares of Cardinal Health in a report on Wednesday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating on shares of Cardinal Health in a report on Monday, June 13th. FBR & Co reiterated a “buy” rating on shares of Cardinal Health in a report on Monday, June 20th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $97.00 price target on shares of Cardinal Health in a report on Tuesday, August 30th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $94.76.
In other news, CEO George S. Barrett sold 20,428 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $83.75, for a total transaction of $1,710,845.00. Following the transaction, the chief executive officer now owns 510,762 shares of the company’s stock, valued at $42,776,317.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig S. Morford sold 12,697 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $83.13, for a total value of $1,055,501.61. Following the transaction, the insider now directly owns 90,811 shares in the company, valued at approximately $7,549,118.43. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States, the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers, hospitals and other healthcare providers.
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