Whittier Trust Co. of Nevada Inc. decreased its position in shares of Cardinal Health Inc. (NYSE:CAH) by 5.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,137 shares of the company’s stock after selling 938 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Cardinal Health were worth $1,259,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in Cardinal Health by 3.4% in the first quarter. Wellington Management Group LLP now owns 33,248,030 shares of the company’s stock worth $2,724,677,000 after buying an additional 1,108,446 shares during the last quarter. Bank of Montreal Can bought a new position in Cardinal Health during the second quarter worth $65,286,000. Bessemer Group Inc. boosted its position in Cardinal Health by 2,665.3% in the first quarter. Bessemer Group Inc. now owns 465,594 shares of the company’s stock worth $38,155,000 after buying an additional 448,757 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Cardinal Health by 57.3% in the first quarter. Canada Pension Plan Investment Board now owns 953,633 shares of the company’s stock worth $78,150,000 after buying an additional 347,435 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in Cardinal Health during the first quarter worth $26,609,000. 85.79% of the stock is currently owned by hedge funds and other institutional investors.
Cardinal Health Inc. (NYSE:CAH) traded up 0.95% during trading on Thursday, hitting $76.60. The stock had a trading volume of 1,595,263 shares. The company has a market cap of $24.40 billion, a PE ratio of 17.73 and a beta of 0.63. Cardinal Health Inc. has a 12 month low of $73.25 and a 12 month high of $91.23. The company’s 50 day moving average is $78.79 and its 200-day moving average is $80.24.
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, topping analysts’ consensus estimates 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 revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 earnings per share. On average, equities research analysts predict that Cardinal Health Inc. will post $5.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.4489 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.37%. Cardinal Health’s dividend payout ratio is currently 41.67%.
A number of research firms recently commented on CAH. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Cardinal Health in a report on Wednesday, July 6th. Credit Suisse Group AG reissued a “buy” rating and issued a $97.00 price target on shares of Cardinal Health in a report on Tuesday, August 30th. Morgan Stanley reissued a “hold” rating on shares of Cardinal Health in a report on Wednesday, June 15th. Leerink Swann reissued an “outperform” rating and issued a $92.00 price target on shares of Cardinal Health in a report on Monday, June 20th. Finally, Bank of America Corp. reissued a “hold” rating and issued a $90.00 price target on shares of Cardinal Health in a report on Monday, September 19th. Eight 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. Cardinal Health presently has a consensus rating of “Buy” and an average target price of $94.76.
In other Cardinal Health news, CEO George S. Barrett sold 20,428 shares of the stock in a transaction that occurred 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 in the company, valued at $42,776,317.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patricia Morrison sold 43,959 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was 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 in the company, valued at approximately $8,222,115. The disclosure for this sale can be found here. Company insiders own 0.94% 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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