Dividend Assets Capital LLC cut its stake in Cardinal Health Inc. (NYSE:CAH) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 1,514,827 shares of the company’s stock after selling 26,990 shares during the period. Cardinal Health accounts for 3.5% of Dividend Assets Capital LLC’s portfolio, making the stock its 2nd largest position. Dividend Assets Capital LLC’s holdings in Cardinal Health were worth $118,172,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC boosted its position in shares of Cardinal Health by 224.8% in the first quarter. Algert Global LLC now owns 57,206 shares of the company’s stock valued at $4,688,000 after buying an additional 39,596 shares in the last quarter. CLS Investments LLC boosted its stake in Cardinal Health by 12.5% in the first quarter. CLS Investments LLC now owns 5,091 shares of the company’s stock valued at $417,000 after buying an additional 566 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Cardinal Health by 0.7% in the first quarter. Stratos Wealth Partners LTD. now owns 16,179 shares of the company’s stock valued at $1,326,000 after buying an additional 117 shares during the period. Teachers Advisors Inc. boosted its stake in Cardinal Health by 5.2% in the first quarter. Teachers Advisors Inc. now owns 644,374 shares of the company’s stock valued at $52,806,000 after buying an additional 31,637 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Cardinal Health by 2.0% in the first quarter. TIAA CREF Investment Management LLC now owns 2,085,559 shares of the company’s stock valued at $170,912,000 after buying an additional 41,853 shares during the period. Hedge funds and other institutional investors own 85.79% of the company’s stock.
Cardinal Health Inc. (NYSE:CAH) traded up 0.15% during trading on Wednesday, hitting $78.26. The stock had a trading volume of 2,482,103 shares. The stock has a market capitalization of $24.93 billion, a PE ratio of 18.12 and a beta of 0.59. The stock’s 50-day moving average is $79.94 and its 200-day moving average is $80.42. Cardinal Health Inc. has a 52-week low of $73.25 and a 52-week high of $91.23.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $31.06 billion. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. Cardinal Health’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 EPS. On average, analysts predict that Cardinal Health Inc. will post $5.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be given a $0.4489 dividend. This represents a $1.80 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 41.67%.
Several analysts recently weighed in on CAH shares. Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Morgan Stanley reiterated a “hold” rating and issued a $91.00 price target on shares of Cardinal Health in a report on Monday, September 12th. FBR & Co reiterated a “buy” rating on shares of Cardinal Health in a report on Monday, June 20th. Bank of America Corp. reiterated a “neutral” rating and issued a $83.00 price target on shares of Cardinal Health in a report on Tuesday, June 7th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $92.00 price target on shares of Cardinal Health in a report on Monday, June 20th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $94.76.
In other Cardinal Health news, SVP Stuart G. Laws sold 9,703 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $82.45, for a total value of $800,012.35. Following the transaction, the senior vice president now owns 2,718 shares of the company’s stock, valued at approximately $224,099.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Donald M. Jr. Casey sold 59,180 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $83.59, for a total value of $4,946,856.20. Following the completion of the transaction, the chief executive officer now directly owns 164,803 shares in the company, valued at approximately $13,775,882.77. The disclosure for this sale can be found here. 0.94% of the stock is owned by company insiders.
Cardinal Health Company Profile
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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