Cardinal Health, Inc. (NYSE:CAH) Stake Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 24.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,722 shares of the company’s stock after selling 895 shares during the period. Edgestream Partners L.P.’s holdings in Cardinal Health were worth $212,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in Cardinal Health during the first quarter worth about $120,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Cardinal Health by 31.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock valued at $123,000 after acquiring an additional 382 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in shares of Cardinal Health by 14.3% in the 2nd quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock valued at $152,000 after acquiring an additional 244 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Cardinal Health in the 2nd quarter valued at about $164,000. Finally, First Personal Financial Services lifted its stake in shares of Cardinal Health by 127.5% in the 2nd quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock valued at $172,000 after acquiring an additional 1,238 shares during the last quarter. 87.63% of the stock is owned by hedge funds and other institutional investors.

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Shares of Cardinal Health, Inc. (CAH) opened at 66.66 on Friday. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month high of $84.88. The company has a market capitalization of $21.09 billion, a PE ratio of 16.54 and a beta of 0.85. The stock has a 50 day moving average price of $67.69 and a 200-day moving average price of $74.72.

Cardinal Health (NYSE:CAH) last posted its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. Cardinal Health’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 EPS. Analysts forecast that Cardinal Health, Inc. will post $4.96 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be issued a $0.4624 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.85 annualized dividend and a yield of 2.77%. Cardinal Health’s payout ratio is 45.79%.

A number of research firms have recently weighed in on CAH. Evercore ISI reissued an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, July 4th. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Credit Suisse Group reissued an “outperform” rating and issued a $87.00 target price (up previously from $81.00) on shares of Cardinal Health in a research note on Thursday, July 13th. BidaskClub lowered Cardinal Health from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC restated a “hold” rating and set a $77.00 price target on shares of Cardinal Health in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Cardinal Health currently has an average rating of “Hold” and a consensus target price of $76.81.

Cardinal Health Company 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.

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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