Candriam Luxembourg S.C.A. lowered its position in Cardinal Health Inc. (NYSE:CAH) by 73.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,490 shares of the company’s stock after selling 91,975 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cardinal Health were worth $2,535,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CAH. Acrospire Investment Management LLC acquired a new stake in shares of Cardinal Health during the first quarter valued at about $107,000. JPMorgan Chase & Co. increased its stake in shares of Cardinal Health by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 1,818,018 shares of the company’s stock valued at $148,985,000 after buying an additional 15,770 shares during the period. Nikko Asset Management Americas Inc. acquired a new stake in shares of Cardinal Health during the first quarter valued at about $384,000. Columbia Partners L L C Investment Management increased its stake in shares of Cardinal Health by 1.2% in the first quarter. Columbia Partners L L C Investment Management now owns 12,474 shares of the company’s stock valued at $1,022,000 after buying an additional 152 shares during the period. Finally, Peapack Gladstone Financial Corp increased its stake in shares of Cardinal Health by 6.7% in the first quarter. Peapack Gladstone Financial Corp now owns 6,731 shares of the company’s stock valued at $552,000 after buying an additional 420 shares during the period. Institutional investors and hedge funds own 85.79% of the company’s stock.
Cardinal Health Inc. (NYSE:CAH) traded up 1.04% on Friday, reaching $77.70. 2,614,015 shares of the company’s stock were exchanged. Cardinal Health Inc. has a 12 month low of $73.25 and a 12 month high of $91.23. The stock has a market capitalization of $24.75 billion, a PE ratio of 17.99 and a beta of 0.59. The firm has a 50 day moving average of $79.42 and a 200 day moving average of $80.34.
Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.01. The firm earned $31.40 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. Equities analysts predict that Cardinal Health Inc. will post $5.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders 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 2.31%. The ex-dividend date of this dividend is Thursday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 41.67%.
Several analysts have issued reports on the stock. Citigroup Inc. upped their price target on shares of Cardinal Health from $87.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Deutsche Bank AG upped their price objective on shares of Cardinal Health from $83.00 to $89.00 and gave the company a “hold” rating in a research note on Thursday, August 4th. Leerink Swann reissued a “buy” rating on shares of Cardinal Health in a research note on Wednesday, August 3rd. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Bank of America Corp. reissued a “neutral” rating and set a $83.00 price objective on shares of Cardinal Health in a research note on Tuesday, June 7th. 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’s stock. The company has an average rating of “Buy” and a consensus price target of $94.76.
In other news, insider Patricia Morrison sold 43,959 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $82.50, for a total value of $3,626,617.50. Following the transaction, the insider now owns 99,662 shares of the company’s stock, valued at $8,222,115. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Stuart G. Laws sold 9,703 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 18th. The shares were 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 in the company, valued at approximately $224,099.10. The disclosure for this sale can be found here. 0.94% of the stock is currently 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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