Candriam Luxembourg S.C.A. boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 17.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,047 shares of the company’s stock after buying an additional 5,299 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cardinal Health were worth $2,731,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Gulf International Bank UK Ltd boosted its stake in Cardinal Health by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 98,741 shares of the company’s stock worth $8,052,000 after buying an additional 1,300 shares during the period. Quadrant Capital Group LLC boosted its stake in 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. National Pension Service boosted its stake in Cardinal Health by 1.8% in the first quarter. National Pension Service now owns 260,907 shares of the company’s stock worth $21,308,000 after buying an additional 4,712 shares during the period. Legacy Private Trust Co. boosted its stake in Cardinal Health by 20.2% in the first quarter. Legacy Private Trust Co. now owns 4,530 shares of the company’s stock worth $369,000 after buying an additional 760 shares during the period. Finally, Bank of Montreal Can boosted its stake in Cardinal Health by 6.2% in the first quarter. Bank of Montreal Can now owns 609,732 shares of the company’s stock worth $49,725,000 after buying an additional 35,436 shares during the period. Institutional investors and hedge funds own 87.09% of the company’s stock.
Shares of Cardinal Health, Inc. (NYSE:CAH) opened at 68.23 on Thursday. The stock has a market cap of $21.56 billion, a price-to-earnings ratio of 16.93 and a beta of 0.80. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88. The firm has a 50-day moving average price of $76.30 and a 200-day moving average price of $76.98.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter last year, the business earned $1.14 earnings per share. Cardinal Health’s revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Cardinal Health, Inc. will post $5.00 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be paid a $0.4624 dividend. This represents a $1.85 annualized dividend and a dividend yield of 2.71%. Cardinal Health’s payout ratio is currently 45.79%.
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A number of analysts have recently commented on CAH shares. William Blair cut Cardinal Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 19th. Leerink Swann set a $72.00 target price on Cardinal Health and gave the stock a “hold” rating in a research report on Friday, April 21st. Barclays PLC reiterated an “overweight” rating and set a $82.00 target price (down previously from $88.00) on shares of Cardinal Health in a research report on Saturday, April 22nd. Cowen and Company cut their target price on Cardinal Health from $89.00 to $82.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 25th. Finally, Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. Cardinal Health has a consensus rating of “Hold” and an average price target of $80.46.
In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the sale, the insider now owns 55,440 shares in the company, valued at $4,039,912.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is currently owned by company insiders.
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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