Southpoint Capital Advisors LP increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 67.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,170,000 shares of the company’s stock after buying an additional 470,000 shares during the period. Cardinal Health makes up approximately 4.0% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 15th largest position. Southpoint Capital Advisors LP owned about 0.37% of Cardinal Health worth $95,414,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of CAH. Teachers Advisors LLC boosted its position in shares of Cardinal Health by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 653,880 shares of the company’s stock valued at $47,060,000 after buying an additional 5,403 shares during the period. Pegasus Partners Ltd. raised its stake in Cardinal Health by 8.6% in the fourth quarter. Pegasus Partners Ltd. now owns 27,992 shares of the company’s stock valued at $2,015,000 after buying an additional 2,215 shares in the last quarter. RMB Capital Management LLC raised its stake in Cardinal Health by 24.9% in the fourth quarter. RMB Capital Management LLC now owns 113,811 shares of the company’s stock valued at $8,191,000 after buying an additional 22,716 shares in the last quarter. Vident Investment Advisory LLC raised its stake in Cardinal Health by 1.2% in the fourth quarter. Vident Investment Advisory LLC now owns 29,388 shares of the company’s stock valued at $2,115,000 after buying an additional 347 shares in the last quarter. Finally, Norges Bank purchased a new stake in Cardinal Health during the fourth quarter valued at about $236,980,000. Institutional investors and hedge funds own 87.63% of the company’s stock.
Shares of Cardinal Health, Inc. (NYSE:CAH) traded up 1.32% during mid-day trading on Friday, hitting $77.61. The company had a trading volume of 1,296,671 shares. The firm has a 50-day moving average price of $77.25 and a 200 day moving average price of $77.19. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month high of $85.52. The firm has a market capitalization of $24.52 billion, a P/E ratio of 18.53 and a beta of 0.81.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Monday, May 1st. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. The company had revenue of $31.82 billion during the quarter, compared to the consensus estimate of $32.30 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Cardinal Health, Inc. will post $5.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd were issued a $0.4624 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.38%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.45. Cardinal Health’s dividend payout ratio is presently 44.05%.
CAH has been the subject of a number of research analyst reports. Credit Suisse Group restated a “buy” rating and issued a $81.00 price target on shares of Cardinal Health in a research report on Tuesday, May 2nd. Vetr upgraded Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 price target for the company in a research report on Wednesday, June 7th. BidaskClub downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Needham & Company LLC assumed coverage on Cardinal Health in a research report on Tuesday, April 4th. They set a “hold” rating for the company. Finally, ValuEngine lowered Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $82.99.
In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the transaction, the insider now directly owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.94% of the stock is owned by corporate insiders.
Cardinal Health Company Profile
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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