Exane Asset Management bought a new stake in Cardinal Health Inc (NYSE:CAH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,127 shares of the company’s stock, valued at approximately $153,000.
Several other institutional investors have also recently added to or reduced their stakes in CAH. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Cardinal Health by 4.0% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,582,776 shares of the company’s stock worth $1,164,768,000 after acquiring an additional 706,543 shares during the period. Macquarie Group Ltd. grew its position in Cardinal Health by 19.7% during the second quarter. Macquarie Group Ltd. now owns 12,544,267 shares of the company’s stock worth $612,537,000 after buying an additional 2,067,829 shares during the period. American Century Companies Inc. grew its position in Cardinal Health by 52.2% during the second quarter. American Century Companies Inc. now owns 4,461,439 shares of the company’s stock worth $217,852,000 after buying an additional 1,530,702 shares during the period. Northern Trust Corp grew its position in Cardinal Health by 0.3% during the first quarter. Northern Trust Corp now owns 4,322,657 shares of the company’s stock worth $270,944,000 after buying an additional 14,642 shares during the period. Finally, Pzena Investment Management LLC grew its position in Cardinal Health by 2.0% during the second quarter. Pzena Investment Management LLC now owns 2,932,134 shares of the company’s stock worth $143,176,000 after buying an additional 58,495 shares during the period. 87.90% of the stock is owned by institutional investors and hedge funds.
Several brokerages have issued reports on CAH. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada set a $60.00 price target on shares of Cardinal Health and gave the company a “hold” rating in a report on Friday, September 21st. Mizuho reaffirmed a “hold” rating and issued a $53.00 price target on shares of Cardinal Health in a report on Sunday, August 12th. Robert W. Baird reduced their price target on shares of Cardinal Health from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, August 7th. Finally, Argus reduced their price objective on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, July 16th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Cardinal Health currently has an average rating of “Hold” and an average target price of $61.33.
In related news, CEO Jon L. Giacomin sold 2,890 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $51.95, for a total transaction of $150,135.50. Following the completion of the sale, the chief executive officer now directly owns 72,652 shares of the company’s stock, valued at approximately $3,774,271.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.
NYSE:CAH traded up $0.10 during trading hours on Friday, reaching $51.63. 3,969,779 shares of the company were exchanged, compared to its average volume of 3,265,501. Cardinal Health Inc has a 52-week low of $48.14 and a 52-week high of $75.75. The company has a market cap of $16.19 billion, a P/E ratio of 10.33, a P/E/G ratio of 1.69 and a beta of 1.02. The company has a quick ratio of 0.53, a current ratio of 1.07 and a debt-to-equity ratio of 1.32.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Monday, August 6th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. Cardinal Health had a net margin of 0.19% and a return on equity of 22.59%. The company had revenue of $35.35 billion during the quarter, compared to analyst estimates of $34.38 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Cardinal Health Inc will post 5.03 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be given a $0.4763 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.91 annualized dividend and a dividend yield of 3.69%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio is presently 38.20%.
Cardinal Health 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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