Engineers Gate Manager LP lessened its holdings in Cardinal Health, Inc. (NYSE:CAH) by 67.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,786 shares of the company’s stock after selling 7,675 shares during the quarter. Engineers Gate Manager LP’s holdings in Cardinal Health were worth $295,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CAH. BlackRock Inc. boosted its holdings in Cardinal Health by 1,041.8% in the first quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock worth $1,748,835,000 after purchasing an additional 19,566,764 shares during the period. FMR LLC lifted its stake in Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock valued at $482,391,000 after buying an additional 1,895,089 shares during the last quarter. Pzena Investment Management LLC bought a new stake in Cardinal Health in the first quarter valued at $86,386,000. Vanguard Group Inc. lifted its stake in Cardinal Health by 3.8% in the first quarter. Vanguard Group Inc. now owns 23,201,310 shares of the company’s stock valued at $1,892,067,000 after buying an additional 843,212 shares during the last quarter. Finally, Ariel Investments LLC lifted its stake in Cardinal Health by 1,944.5% in the first quarter. Ariel Investments LLC now owns 746,789 shares of the company’s stock valued at $60,901,000 after buying an additional 710,263 shares during the last quarter. 87.63% of the stock is owned by hedge funds and other institutional investors.
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Shares of Cardinal Health, Inc. (NYSE CAH) opened at 67.07 on Tuesday. The stock’s 50 day moving average price is $68.00 and its 200 day moving average price is $74.84. The firm has a market capitalization of $21.22 billion, a price-to-earnings ratio of 16.64 and a beta of 0.85. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. The firm had revenue of $32.97 billion during the quarter, compared to the consensus estimate of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. Analysts expect that Cardinal Health, Inc. will post $4.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be given a $0.4624 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.76%. Cardinal Health’s payout ratio is 45.79%.
CAH has been the topic of a number of recent research reports. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Credit Suisse Group reiterated an “outperform” rating and issued a $87.00 target price (up from $81.00) on shares of Cardinal Health in a research note on Thursday, July 13th. BidaskClub cut Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Vetr cut Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 target price on the stock. in a research note on Thursday, June 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $78.45.
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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