Inlet Private Wealth LLC lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 0.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,925 shares of the company’s stock after selling 500 shares during the quarter. Cardinal Health comprises 1.4% of Inlet Private Wealth LLC’s portfolio, making the stock its 18th largest position. Inlet Private Wealth LLC’s holdings in Cardinal Health were worth $3,565,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of CAH. Amundi Pioneer Asset Management Inc. grew its stake in shares of Cardinal Health by 19.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 317,924 shares of the company’s stock valued at $15,307,000 after buying an additional 52,482 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Cardinal Health by 14.9% in the first quarter. Wells Fargo & Company MN now owns 1,221,878 shares of the company’s stock valued at $58,576,000 after buying an additional 158,291 shares in the last quarter. Atom Investors LP grew its stake in shares of Cardinal Health by 5.6% in the first quarter. Atom Investors LP now owns 6,162 shares of the company’s stock valued at $295,000 after buying an additional 325 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Cardinal Health in the first quarter valued at about $2,230,000. Finally, United Capital Financial Advisers LLC boosted its holdings in Cardinal Health by 9.4% in the first quarter. United Capital Financial Advisers LLC now owns 20,935 shares of the company’s stock valued at $1,004,000 after purchasing an additional 1,806 shares during the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.
A number of research analysts recently commented on CAH shares. Bank of America increased their price target on Cardinal Health from $61.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft raised Cardinal Health from a “hold” rating to a “buy” rating and reduced their price target for the company from $66.00 to $61.00 in a report on Friday, September 25th. They noted that the move was a valuation call. Morgan Stanley increased their price target on Cardinal Health from $59.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. ValuEngine downgraded Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Finally, Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating and set a $56.00 price target for the company in a report on Tuesday, August 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $59.40.
NYSE:CAH traded down $0.13 during trading hours on Friday, reaching $48.79. 1,284,587 shares of the stock were exchanged, compared to its average volume of 2,631,427. The company has a quick ratio of 0.54, a current ratio of 1.10 and a debt-to-equity ratio of 3.78. The firm has a 50 day simple moving average of $48.14 and a 200-day simple moving average of $51.00. Cardinal Health, Inc. has a 52 week low of $39.05 and a 52 week high of $60.69. The stock has a market capitalization of $14.31 billion, a P/E ratio of -3.91, a P/E/G ratio of 1.63 and a beta of 0.94.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.13. The business had revenue of $36.70 billion for the quarter, compared to the consensus estimate of $36.82 billion. Cardinal Health had a positive return on equity of 130.94% and a negative net margin of 2.42%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. As a group, analysts expect that Cardinal Health, Inc. will post 5.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were issued a $0.4859 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Wednesday, September 30th. Cardinal Health’s dividend payout ratio (DPR) is 35.60%.
Cardinal Health Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments, Pharmaceutical and Medical.
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