Cullen Frost Bankers Inc. reduced its position in Cardinal Health Inc. (NYSE:CAH) by 36.3% during the second quarter, Holdings Channel reports. The fund owned 14,104 shares of the company’s stock after selling 8,035 shares during the period. Cullen Frost Bankers Inc.’s holdings in Cardinal Health were worth $1,100,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the company. Conning Inc. raised its stake in Cardinal Health by 0.3% in the second quarter. Conning Inc. now owns 7,980 shares of the company’s stock worth $623,000 after buying an additional 20 shares during the last quarter. First Financial Bank N.A. Trust Division increased its position in Cardinal Health by 0.6% in the second quarter. First Financial Bank N.A. Trust Division now owns 4,124 shares of the company’s stock worth $322,000 after buying an additional 25 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Cardinal Health by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,265 shares of the company’s stock worth $333,000 after buying an additional 26 shares during the last quarter. Cypress Capital Group increased its position in Cardinal Health by 0.5% in the first quarter. Cypress Capital Group now owns 7,786 shares of the company’s stock worth $638,000 after buying an additional 36 shares during the last quarter. Finally, Trust Co increased its position in Cardinal Health by 3.1% in the first quarter. Trust Co now owns 2,989 shares of the company’s stock worth $245,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.
Shares of Cardinal Health Inc. (NYSE:CAH) traded up 0.15% on Wednesday, hitting $78.26. The stock had a trading volume of 2,482,103 shares. The firm’s 50-day moving average price is $79.78 and its 200 day moving average price is $80.41. The firm has a market cap of $24.93 billion, a PE ratio of 18.12 and a beta of 0.59. Cardinal Health Inc. has a 52-week low of $73.25 and a 52-week high of $91.23.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The firm 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%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. On average, equities research analysts predict that Cardinal Health Inc. will post $5.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be issued a $0.4489 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 2.29%. Cardinal Health’s dividend payout ratio is presently 41.67%.
A number of research firms have recently issued reports on CAH. Citigroup Inc. increased their price target on Cardinal Health from $87.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Deutsche Bank AG increased their price target on Cardinal Health from $83.00 to $89.00 and gave the stock a “hold” rating in a research report on Thursday, August 4th. Leerink Swann reissued a “buy” rating on shares of Cardinal Health in a research report on Wednesday, August 3rd. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Finally, Bank of America Corp. reissued a “neutral” rating and set a $83.00 price target on shares of Cardinal Health in a research report on Tuesday, June 7th. Eight equities research 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 company has an average rating of “Buy” and an average price target of $94.76.
In related news, insider Craig S. Morford sold 12,697 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $83.13, for a total value of $1,055,501.61. Following the sale, the insider now owns 90,811 shares in the company, valued at approximately $7,549,118.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman George S. Barrett sold 250,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $83.63, for a total value of $20,907,500.00. Following the completion of the sale, the chairman now owns 510,762 shares in the company, valued at approximately $42,715,026.06. The disclosure for this sale can be found here. 0.94% of the stock is owned by corporate 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.
Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health Inc. (NYSE:CAH).
Receive News & Ratings for Cardinal Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health Inc. and related companies with MarketBeat.com's FREE daily email newsletter.