Johnson Financial Group Inc. trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 49.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,815 shares of the company’s stock after selling 12,462 shares during the quarter. Johnson Financial Group Inc.’s holdings in Cardinal Health were worth $999,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in CAH. Sheets Smith Wealth Management lifted its position in shares of Cardinal Health by 0.8% in the second quarter. Sheets Smith Wealth Management now owns 36,800 shares of the company’s stock worth $2,867,000 after purchasing an additional 300 shares in the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Cardinal Health in the second quarter worth approximately $2,464,000. Victory Capital Management Inc. raised its position in Cardinal Health by 202.1% during the second quarter. Victory Capital Management Inc. now owns 61,304 shares of the company’s stock valued at $4,776,000 after acquiring an additional 41,013 shares in the last quarter. Dupont Capital Management Corp bought a new position in Cardinal Health during the second quarter valued at approximately $164,000. Finally, Swiss National Bank raised its position in Cardinal Health by 1.6% during the second quarter. Swiss National Bank now owns 1,152,648 shares of the company’s stock valued at $89,814,000 after acquiring an additional 18,600 shares in the last quarter. Institutional investors own 87.63% of the company’s stock.
Shares of Cardinal Health, Inc. (CAH) opened at 66.66 on Friday. The firm’s 50-day moving average price is $67.69 and its 200 day moving average price is $74.72. The company has a market capitalization of $21.09 billion, a PE ratio of 16.54 and a beta of 0.85. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share 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 company had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same quarter last year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts anticipate that Cardinal Health, Inc. will post $4.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be given a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 45.79%.
Several brokerages recently weighed in on CAH. UBS AG reaffirmed a “neutral” rating and set a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Credit Suisse Group reissued 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 lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. Finally, Cowen and Company restated a “market perform” rating and issued a $77.00 price objective (down previously from $82.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Cardinal Health has an average rating of “Hold” and an average target price of $76.81.
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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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