Clark Estates Inc. NY raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 11.4% during the second quarter, Holdings Channel reports. The firm owned 147,000 shares of the company’s stock after buying an additional 15,000 shares during the period. Cardinal Health comprises about 2.0% of Clark Estates Inc. NY’s holdings, making the stock its 13th largest position. Clark Estates Inc. NY’s holdings in Cardinal Health were worth $11,454,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of Cardinal Health by 9.0% in the second quarter. First Trust Advisors LP now owns 534,280 shares of the company’s stock worth $41,631,000 after buying an additional 43,934 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Cardinal Health by 0.3% in the second quarter. Arizona State Retirement System now owns 78,334 shares of the company’s stock worth $6,104,000 after buying an additional 200 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Cardinal Health by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,216,918 shares of the company’s stock worth $94,823,000 after buying an additional 56,974 shares during the last quarter. Forward Management LLC boosted its stake in shares of Cardinal Health by 4.9% in the second quarter. Forward Management LLC now owns 18,998 shares of the company’s stock worth $1,481,000 after buying an additional 883 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in shares of Cardinal Health by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 8,392 shares of the company’s stock worth $654,000 after buying an additional 44 shares during the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.
Cardinal Health, Inc. (NYSE CAH) opened at 67.31 on Friday. The firm’s 50 day moving average is $76.01 and its 200-day moving average is $76.91. The firm has a market cap of $21.27 billion, a price-to-earnings ratio of 16.70 and a beta of 0.80. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month 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 (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that Cardinal Health, Inc. will post $4.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 annualized dividend and a yield of 2.75%. Cardinal Health’s dividend payout ratio is currently 45.79%.
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A number of equities research analysts have recently issued reports on CAH shares. William Blair cut shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. Leerink Swann set a $72.00 target price on shares of Cardinal Health and gave the company a “hold” rating in a report on Friday, April 21st. Barclays PLC reaffirmed an “overweight” rating and issued a $82.00 target price (down from $88.00) on shares of Cardinal Health in a report on Saturday, April 22nd. Cowen and Company dropped their target price on shares of Cardinal Health from $89.00 to $82.00 and set a “market perform” rating on the stock in a report on Tuesday, April 25th. Finally, Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price 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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