Jupiter Asset Management Ltd. reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 38.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 187,923 shares of the company’s stock after selling 115,407 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.06% of Cardinal Health worth $11,416,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CAH. Norges Bank bought a new stake in Cardinal Health in the fourth quarter worth approximately $166,229,000. BlackRock Inc. increased its holdings in Cardinal Health by 10.2% in the first quarter. BlackRock Inc. now owns 27,394,980 shares of the company’s stock worth $1,664,245,000 after purchasing an additional 2,535,606 shares in the last quarter. Avidity Partners Management LP bought a new stake in Cardinal Health in the fourth quarter worth approximately $43,276,000. ProShare Advisors LLC increased its holdings in Cardinal Health by 24.6% in the fourth quarter. ProShare Advisors LLC now owns 2,106,765 shares of the company’s stock worth $112,838,000 after purchasing an additional 416,492 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Cardinal Health by 3.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,005,668 shares of the company’s stock worth $482,344,000 after purchasing an additional 322,495 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.
CAH has been the subject of several recent research reports. Robert W. Baird restated a “neutral” rating and set a $64.00 price objective (down previously from $66.00) on shares of Cardinal Health in a report on Monday, May 17th. Morgan Stanley decreased their price objective on Cardinal Health from $66.00 to $64.00 and set an “equal weight” rating for the company in a report on Wednesday, March 3rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Cardinal Health currently has an average rating of “Buy” and a consensus price target of $60.50.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, May 6th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.02). The company had revenue of $39.28 billion for the quarter, compared to analysts’ expectations of $40.14 billion. Cardinal Health had a net margin of 0.74% and a return on equity of 98.20%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 5.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Thursday, July 1st will be given a dividend of $0.4908 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.49. The ex-dividend date is Wednesday, June 30th. This represents a $1.96 annualized dividend and a dividend yield of 3.27%. Cardinal Health’s payout ratio is presently 35.60%.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments, Pharmaceutical and Medical.
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