Hartford Investment Management Co. lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,807 shares of the company’s stock after selling 4,198 shares during the period. Hartford Investment Management Co.’s holdings in Cardinal Health were worth $6,296,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Teachers Advisors LLC increased its stake in shares of Cardinal Health by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 653,880 shares of the company’s stock valued at $47,060,000 after buying an additional 5,403 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Cardinal Health during the fourth quarter valued at about $1,672,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Cardinal Health during the fourth quarter valued at about $746,000. Macquarie Group Ltd. increased its stake in shares of Cardinal Health by 10.0% in the fourth quarter. Macquarie Group Ltd. now owns 10,078,619 shares of the company’s stock valued at $725,359,000 after buying an additional 917,027 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Cardinal Health by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 274,051 shares of the company’s stock valued at $22,349,000 after buying an additional 4,174 shares during the last quarter. 86.41% of the stock is owned by hedge funds and other institutional investors.
Shares of Cardinal Health, Inc. (CAH) opened at 66.01 on Thursday. The stock has a market cap of $20.86 billion, a PE ratio of 16.38 and a beta of 0.80. The stock’s 50 day moving average is $74.55 and its 200-day moving average is $76.72. Cardinal Health, Inc. has a 1-year low of $62.70 and a 1-year high of $84.88.
Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter last year, the firm earned $1.14 EPS. Cardinal Health’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts predict that Cardinal Health, Inc. will post $4.97 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 given a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio is presently 45.79%.
CAH has been the topic of a number of research reports. Tigress Financial began coverage on shares of Cardinal Health in a report on Friday, April 28th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Vetr lowered shares of Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 price target on the stock. in a report on Thursday, June 1st. Credit Suisse Group reaffirmed a “buy” rating and issued a $81.00 price target on shares of Cardinal Health in a report on Tuesday, May 2nd. Finally, BidaskClub lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $80.46.
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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