Boston Partners reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 14.8% during the second quarter, Holdings Channel reports. The fund owned 2,227,540 shares of the company’s stock after selling 387,205 shares during the period. Boston Partners’ holdings in Cardinal Health were worth $173,570,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Alpha Windward LLC increased its position in Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares during the period. HL Financial Services LLC increased its position in Cardinal Health by 0.3% in the first quarter. HL Financial Services LLC now owns 11,887 shares of the company’s stock valued at $969,000 after buying an additional 38 shares during the period. Edmond DE Rothschild Holding S.A. increased its position in Cardinal Health by 0.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,321 shares of the company’s stock valued at $353,000 after buying an additional 39 shares during the period. Wetherby Asset Management Inc. increased its position in Cardinal Health by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 8,392 shares of the company’s stock valued at $654,000 after buying an additional 44 shares during the period. Finally, Bessemer Group Inc. increased its position in Cardinal Health by 1.2% in the second quarter. Bessemer Group Inc. now owns 4,238 shares of the company’s stock valued at $330,000 after buying an additional 51 shares during the period. 87.09% of the stock is currently owned by institutional investors.
Cardinal Health, Inc. (NYSE CAH) opened at 66.98 on Friday. The firm has a market cap of $21.17 billion, a P/E ratio of 16.62 and a beta of 0.80. Cardinal Health, Inc. has a 1-year low of $62.70 and a 1-year high of $84.88. The firm has a 50-day moving average of $75.67 and a 200 day moving average of $76.86.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion during 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%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. On average, analysts predict that Cardinal Health, Inc. will post $4.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio is currently 45.79%.
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Several research firms have commented on CAH. UBS AG restated a “neutral” rating and issued a $76.00 price target (down previously from $79.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Credit Suisse Group restated an “outperform” rating and issued a $87.00 price target (up previously from $81.00) on shares of Cardinal Health in a research note on Thursday, July 13th. William Blair downgraded shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. Barclays PLC restated an “overweight” rating and issued a $82.00 price target (down previously from $88.00) on shares of Cardinal Health in a research note on Saturday, April 22nd. Finally, BidaskClub downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $80.46.
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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