BTC Capital Management Inc. reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,074 shares of the company’s stock after selling 196 shares during the period. BTC Capital Management Inc.’s holdings in Cardinal Health were worth $2,733,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Advisory Services Network LLC purchased a new position in Cardinal Health during the first quarter worth $120,000. JFS Wealth Advisors LLC increased its position in Cardinal Health by 14.3% in the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock worth $152,000 after buying an additional 244 shares in the last quarter. Quadrant Capital Group LLC increased its position in Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock worth $156,000 after buying an additional 116 shares in the last quarter. Alpha Windward LLC increased its position in Cardinal Health by 1.8% in the first quarter. Alpha Windward LLC now owns 2,282 shares of the company’s stock worth $186,000 after buying an additional 41 shares in the last quarter. Finally, MCF Advisors LLC increased its position in Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock worth $202,000 after buying an additional 256 shares in the last quarter. 87.09% of the stock is currently owned by institutional investors.
Cardinal Health, Inc. (NYSE:CAH) opened at 67.31 on Friday. Cardinal Health, Inc. has a 1-year low of $62.70 and a 1-year high of $84.88. The company has a market cap of $21.27 billion, a P/E ratio of 16.70 and a beta of 0.80. The stock has a 50 day moving average price of $76.01 and a 200 day moving average price of $76.91.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. Cardinal Health’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, equities research analysts anticipate that Cardinal Health, Inc. will post $4.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be issued a $0.4624 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.75%. Cardinal Health’s payout ratio is 45.79%.
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A number of research firms have weighed in on CAH. Credit Suisse Group lowered their target price on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. BidaskClub downgraded Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, August 4th. UBS AG reissued a “neutral” rating and issued a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Cowen and Company reissued a “market perform” rating and issued a $77.00 target price (down previously from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $80.46.
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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