State Board of Administration of Florida Retirement System Reduces Stock Position in Cardinal Health Inc (NYSE:CAH)

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State Board of Administration of Florida Retirement System cut its stake in Cardinal Health Inc (NYSE:CAH) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 409,954 shares of the company’s stock after selling 4,670 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of Cardinal Health worth $19,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Andra AP fonden purchased a new stake in shares of Cardinal Health in the first quarter valued at approximately $5,662,000. ARP Americas LP lifted its holdings in Cardinal Health by 197.2% in the second quarter. ARP Americas LP now owns 62,399 shares of the company’s stock valued at $2,939,000 after acquiring an additional 41,400 shares during the last quarter. Bremer Bank National Association acquired a new position in Cardinal Health in the first quarter valued at approximately $27,000. Jacobs Levy Equity Management Inc. lifted its holdings in Cardinal Health by 5.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 555,163 shares of the company’s stock valued at $26,731,000 after acquiring an additional 26,570 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Cardinal Health by 32.1% in the first quarter. Advisory Services Network LLC now owns 1,978 shares of the company’s stock valued at $95,000 after acquiring an additional 481 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

CAH opened at $42.79 on Friday. Cardinal Health Inc has a one year low of $41.03 and a one year high of $58.31. The stock has a market capitalization of $12.76 billion, a PE ratio of 8.10, a P/E/G ratio of 1.44 and a beta of 1.28. The business’s 50 day moving average price is $45.27 and its 200 day moving average price is $47.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 1.07.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The company had revenue of $37.35 billion for the quarter, compared to analysts’ expectations of $36.70 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts forecast that Cardinal Health Inc will post 5.02 earnings per share for the current fiscal year.

CAH has been the topic of a number of recent analyst reports. Guggenheim upgraded Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $50.00 to $52.00 in a report on Tuesday. ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $55.00.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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