Private Trust Co. NA increased its position in Cardinal Health, Inc. (NYSE:CAH) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,259 shares of the company’s stock after buying an additional 528 shares during the period. Private Trust Co. NA’s holdings in Cardinal Health were worth $1,111,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of CAH. Gulf International Bank UK Ltd increased its position in shares of Cardinal Health by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 98,741 shares of the company’s stock worth $8,052,000 after buying an additional 1,300 shares in the last quarter. Sheets Smith Wealth Management increased its position in shares of Cardinal Health by 7.4% in the first quarter. Sheets Smith Wealth Management now owns 36,500 shares of the company’s stock worth $2,977,000 after buying an additional 2,500 shares in the last quarter. Charter Trust Co. increased its position in shares of Cardinal Health by 107.4% in the first quarter. Charter Trust Co. now owns 6,330 shares of the company’s stock worth $516,000 after buying an additional 3,278 shares in the last quarter. Denali Advisors LLC increased its position in shares of Cardinal Health by 50.4% in the first quarter. Denali Advisors LLC now owns 170,600 shares of the company’s stock worth $13,912,000 after buying an additional 57,200 shares in the last quarter. Finally, Cardinal Capital Management Inc. bought a new position in shares of Cardinal Health during the first quarter worth approximately $497,000. Institutional investors and hedge funds own 87.09% of the company’s stock.
Cardinal Health, Inc. (NYSE:CAH) traded up 0.14% during midday trading on Tuesday, reaching $69.34. 2,082,228 shares of the company were exchanged. The company has a market capitalization of $21.91 billion, a PE ratio of 17.21 and a beta of 0.80. 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 price of $76.89 and a 200-day moving average price of $77.11.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.07. The business 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 earned $1.14 EPS. Equities research analysts anticipate that Cardinal Health, Inc. will post $5.00 earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Evercore ISI restated an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, July 4th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $87.00 price target (up previously from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. BidaskClub cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $77.00 price target on shares of Cardinal Health in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $80.46.
In other news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the completion of the sale, the insider now owns 55,440 shares in the company, valued at approximately $4,039,912.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.94% of the stock is currently owned by insiders.
About Cardinal Health
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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