ING Groep NV increased its position in shares of Cardinal Health Inc. (NYSE:CAH) by 59.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,734 shares of the company’s stock after buying an additional 4,733 shares during the period. ING Groep NV’s holdings in Cardinal Health were worth $993,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Conning Inc. raised its stake in shares of 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 raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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.
Cardinal Health Inc. (NYSE:CAH) traded down 0.40% during mid-day trading on Friday, reaching $76.40. The company’s stock had a trading volume of 2,442,415 shares. The company has a 50 day moving average of $78.56 and a 200-day moving average of $80.18. Cardinal Health Inc. has a 52-week low of $73.25 and a 52-week high of $91.23. The stock has a market cap of $24.34 billion, a PE ratio of 17.69 and a beta of 0.63.
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 analysts’ consensus estimates of $1.13 by $0.01. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. The firm earned $31.40 billion during the quarter, compared to analysts’ expectations of $31.06 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. Equities analysts forecast that Cardinal Health Inc. will post $5.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 2.35%. Cardinal Health’s dividend payout ratio is currently 41.67%.
A number of equities research analysts have commented on the company. Citigroup Inc. raised their price objective 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 raised their price objective 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 restated a “buy” rating on shares of Cardinal Health in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Cardinal Health in a research report on Wednesday, July 6th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $94.76.
In other news, SVP Stuart G. Laws sold 9,703 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig S. Morford sold 12,697 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 90,811 shares of the company’s stock, valued at $7,549,118.43. The disclosure for this sale can be found here. 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.
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.