Louisiana State Employees Retirement System raised its position in Cardinal Health, Inc. (NYSE:CAH) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 19,600 shares of the company’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Cardinal Health were worth $1,527,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Advisory Services Network LLC purchased a new position in shares of Cardinal Health during the first quarter worth about $120,000. Quadrant Capital Group LLC raised its position in shares of Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock worth $156,000 after buying an additional 116 shares during the period. Alpha Windward LLC raised its position in shares of Cardinal Health by 1.8% in the first quarter. Alpha Windward LLC now owns 2,282 shares of the company’s stock worth $186,000 after buying an additional 41 shares during the period. MCF Advisors LLC raised its position in shares of Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock worth $202,000 after buying an additional 256 shares during the period. Finally, First Mercantile Trust Co. raised its position in shares of Cardinal Health by 18.5% in the first quarter. First Mercantile Trust Co. now owns 2,539 shares of the company’s stock worth $207,000 after buying an additional 397 shares during the period. 87.52% of the stock is owned by hedge funds and other institutional investors.
Cardinal Health, Inc. (NYSE:CAH) opened at 77.35 on Friday. The company has a 50 day moving average price of $76.85 and a 200 day moving average price of $77.11. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 18.47 and a beta of 0.81. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $85.52.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Monday, May 1st. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. The firm had revenue of $31.82 billion during the quarter, compared to analysts’ expectations of $32.30 billion. Cardinal Health had a net margin of 1.05% and a return on equity of 25.78%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. Analysts expect that Cardinal Health, Inc. will post $5.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Investors of record on Monday, July 3rd were issued a dividend of $0.4624 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.45. This represents a $1.85 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, June 29th. Cardinal Health’s dividend payout ratio is currently 44.05%.
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A number of brokerages recently issued reports on CAH. BidaskClub lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Evercore ISI restated an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, July 4th. Needham & Company LLC began coverage on Cardinal Health in a research note on Tuesday, April 4th. They issued a “hold” rating for the company. Finally, Credit Suisse Group restated 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. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $82.99.
In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.94% of the company’s stock.
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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