Orleans Capital Management Corp LA lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,484 shares of the company’s stock after selling 25 shares during the quarter. Orleans Capital Management Corp LA’s holdings in Cardinal Health were worth $1,596,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in CAH. BlackRock Inc. grew its stake 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 in the last quarter. Franklin Resources Inc. grew its stake in Cardinal Health by 72.1% in the second quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock worth $489,613,000 after purchasing an additional 2,632,836 shares in the last quarter. FMR LLC grew 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 worth $482,391,000 after purchasing an additional 1,895,089 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Cardinal Health by 71.4% in the second quarter. Ameriprise Financial Inc. now owns 3,557,123 shares of the company’s stock worth $277,191,000 after purchasing an additional 1,482,285 shares in the last quarter. Finally, HealthCor Management L.P. bought a new position in Cardinal Health in the second quarter worth approximately $84,496,000. 87.98% of the stock is currently owned by institutional investors.
Cardinal Health, Inc. (NYSE CAH) traded down 2.0113% during mid-day trading on Friday, hitting $64.9959. The stock had a trading volume of 2,124,104 shares. Cardinal Health, Inc. has a 52-week low of $62.70 and a 52-week high of $84.88. The firm has a 50-day moving average of $67.26 and a 200-day moving average of $72.98. The stock has a market cap of $20.57 billion, a P/E ratio of 16.1280 and a beta of 0.86.
Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 0.99% and a return on equity of 26.20%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. On average, analysts forecast that Cardinal Health, Inc. will post $4.95 EPS for the current fiscal year.
The company also recently announced 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 is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.79%. Cardinal Health’s payout ratio is currently 45.79%.
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CAH has been the topic of several research analyst reports. BidaskClub cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. UBS AG reissued a “neutral” rating and issued a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. 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 dropped their price objective on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $77.00 price objective on shares of Cardinal Health in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.54.
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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