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.
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