California State Teachers Retirement System trimmed its stake in Cardinal Health, Inc. (NYSE:CAH) by 6.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 605,325 shares of the company’s stock after selling 45,142 shares during the quarter. California State Teachers Retirement System owned about 0.19% of Cardinal Health worth $47,167,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of CAH. Victory Capital Management Inc. grew its holdings in Cardinal Health by 15.7% in the first quarter. Victory Capital Management Inc. now owns 20,291 shares of the company’s stock worth $1,655,000 after purchasing an additional 2,760 shares during the period. Vident Investment Advisory LLC grew its holdings in Cardinal Health by 18.5% in the first quarter. Vident Investment Advisory LLC now owns 34,812 shares of the company’s stock worth $2,839,000 after purchasing an additional 5,424 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in Cardinal Health by 14.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 55,149 shares of the company’s stock worth $4,497,000 after purchasing an additional 6,819 shares during the period. Comerica Securities Inc. grew its holdings in Cardinal Health by 3.0% in the first quarter. Comerica Securities Inc. now owns 40,579 shares of the company’s stock worth $3,309,000 after purchasing an additional 1,190 shares during the period. Finally, Sivik Global Healthcare LLC acquired a new stake in Cardinal Health in the first quarter worth $2,854,000. Institutional investors and hedge funds own 87.98% of the company’s stock.
A number of equities research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Cardinal Health in a report on Thursday. UBS AG restated a “neutral” rating and issued a $76.00 price target (down from $79.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Evercore ISI restated an “outperform” rating on shares of Cardinal Health in a report on Tuesday, July 4th. Cowen and Company restated a “market perform” rating and issued a $77.00 price target (down from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Finally, Jefferies Group LLC set a $77.00 price target on shares of Cardinal Health and gave the stock a “hold” rating in a report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.54.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. Cardinal Health’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS.
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 paid a $0.4624 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.81%. Cardinal Health’s payout ratio is 45.79%.
Cardinal Health 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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