Smithfield Trust Co. decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 59.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,320 shares of the company’s stock after selling 1,974 shares during the period. Smithfield Trust Co.’s holdings in Cardinal Health were worth $103,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Alpha Windward LLC boosted its position in Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares during the period. HL Financial Services LLC boosted its position in Cardinal Health by 0.3% in the first quarter. HL Financial Services LLC now owns 11,887 shares of the company’s stock valued at $969,000 after buying an additional 38 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in Cardinal Health by 0.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,321 shares of the company’s stock valued at $353,000 after buying an additional 39 shares during the period. Private Trust Co. NA boosted its position in Cardinal Health by 0.3% in the first quarter. Private Trust Co. NA now owns 13,731 shares of the company’s stock valued at $1,119,000 after buying an additional 41 shares during the period. Finally, Bessemer Group Inc. boosted its position in Cardinal Health by 1.2% in the second quarter. Bessemer Group Inc. now owns 4,238 shares of the company’s stock valued at $330,000 after buying an additional 51 shares during the period. 87.09% of the stock is currently owned by institutional investors.
Shares of Cardinal Health, Inc. (CAH) opened at 68.23 on Thursday. The company has a 50 day moving average price of $76.30 and a 200 day moving average price of $76.98. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.88. The company has a market cap of $21.56 billion, a PE ratio of 16.93 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter last year, the firm earned $1.14 EPS. Cardinal Health’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Cardinal Health, Inc. will post $5.00 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be given a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 2.71%. Cardinal Health’s dividend payout ratio is presently 45.79%.
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Several equities analysts have weighed in on the company. William Blair cut Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. UBS AG reaffirmed a “neutral” rating and set a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday. Jefferies Group LLC assumed coverage on Cardinal Health in a research note on Wednesday, May 17th. They set a “hold” rating and a $77.00 target price on the stock. ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $80.46.
In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of Cardinal Health stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $72.87, for a total value of $1,695,684.90. Following the sale, the insider now owns 55,440 shares of the company’s stock, valued at approximately $4,039,912.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.94% of the stock is currently owned by company insiders.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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