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CARDINAL HEALTH, INC. (CAH) News
Shikiar Asset Management Inc. Cuts Position in Cardinal Health, Inc. (CAH)
Shikiar Asset Management Inc. decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 61.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,960 shares of the company’s stock after selling 32,730 shares during the period. Shikiar Asset Management Inc.’s holdings in Cardinal Health were worth $1,403,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Cardinal Health by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock valued at $1,842,205,000 after purchasing an additional 440,967 shares in the last quarter. BlackRock Inc. boosted its position in shares of Cardinal Health by 6.5% during the 2nd quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock valued at $1,779,958,000 after purchasing an additional 1,398,496 shares in the last quarter. State Street Corp boosted its position in shares of Cardinal Health by 1.1% during the 1st quarter. State Street Corp now owns 16,790,201 shares of the company’s stock valued at $1,369,247,000 after purchasing an additional 176,331 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Cardinal Health by 72.1% during the 2nd quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock valued at $489,613,000 after purchasing an additional 2,632,836 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Cardinal Health by 71.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,557,123 shares of the company’s stock valued at $277,191,000 after purchasing an additional 1,482,285 shares in the last quarter. 87.80% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CAH. Evercore ISI restated an “outperform” rating on shares of Cardinal Health in a research report on Tuesday, July 4th. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Credit Suisse Group reiterated an “outperform” rating and issued a $87.00 target price (up from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. BidaskClub cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $77.00 target price on shares of Cardinal Health in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Cardinal Health currently has a consensus rating of “Hold” and a consensus price target of $75.72.
Shares of Cardinal Health, Inc. (NYSE CAH) traded down 4.23% during trading on Friday, reaching $62.01. 7,873,532 shares of the company traded hands. Cardinal Health, Inc. has a 12 month low of $61.64 and a 12 month high of $84.88. The stock has a market cap of $19.55 billion, a P/E ratio of 15.39 and a beta of 0.86. The stock’s 50 day moving average price is $66.70 and its 200-day moving average price is $71.70.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $32.97 billion for 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%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS. On average, equities research analysts expect that Cardinal Health, Inc. will post $4.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Investors of record on Monday, October 2nd were given a $0.4624 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.85 annualized dividend and a yield of 2.98%. Cardinal Health’s dividend payout ratio is currently 45.79%.Get Started today! - Risk Free