Strs Ohio cut its position in Cardinal Health Inc. (NYSE:CAH) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 205,843 shares of the company’s stock after selling 5,984 shares during the period. Strs Ohio’s holdings in Cardinal Health were worth $16,057,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CAH. JFS Wealth Advisors LLC boosted its position 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. Bank of Montreal Can acquired a new stake in shares of Cardinal Health during the second quarter valued at approximately $65,286,000. MSI Financial Services Inc boosted its stake in shares of Cardinal Health by 38.5% in the second quarter. MSI Financial Services Inc now owns 13,296 shares of the company’s stock valued at $1,037,000 after buying an additional 3,693 shares during the period. Shell Asset Management Co. boosted its stake in shares of Cardinal Health by 8.7% in the second quarter. Shell Asset Management Co. now owns 84,052 shares of the company’s stock valued at $6,557,000 after buying an additional 6,756 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Cardinal Health by 5.1% in the second quarter. Daiwa Securities Group Inc. now owns 10,400 shares of the company’s stock valued at $811,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 85.79% of the company’s stock.
Cardinal Health Inc. (NYSE:CAH) traded down 1.17% during trading on Thursday, hitting $76.90. The stock had a trading volume of 2,676,834 shares. The stock has a 50 day moving average price of $79.59 and a 200 day moving average price of $80.38. Cardinal Health Inc. has a 12-month low of $73.25 and a 12-month high of $91.23. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 17.80 and a beta of 0.59.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.01. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The business earned $31.40 billion during the quarter, compared to analysts’ expectations of $31.06 billion. During the same quarter in the prior year, the company earned $1.00 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts forecast that Cardinal Health Inc. will post $5.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be paid a $0.4489 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, September 29th. Cardinal Health’s payout ratio is presently 41.67%.
CAH has been the subject of several recent analyst reports. Raymond James Financial Inc. cut Cardinal Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 1st. Bank of America Corp. reaffirmed a “neutral” rating and issued a $83.00 target price on shares of Cardinal Health in a research report on Tuesday, June 7th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Cardinal Health in a research report on Monday, June 13th. Morgan Stanley reaffirmed a “hold” rating on shares of Cardinal Health in a research report on Wednesday, June 15th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Cardinal Health in a research report on Monday, June 20th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Cardinal Health has a consensus rating of “Buy” and an average target price of $94.76.
In related news, 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 completion of the transaction, the insider now directly owns 90,811 shares of the company’s stock, valued at approximately $7,549,118.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $800,012.35. Following the completion of the transaction, the senior vice president now directly owns 2,718 shares of the company’s stock, valued at $224,099.10. The disclosure for this sale can be found here. 0.94% of the stock is currently 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.
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