Cypress Asset Management Inc. TX reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 47.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,132 shares of the company’s stock after selling 3,725 shares during the period. Cypress Asset Management Inc. TX’s holdings in Cardinal Health were worth $322,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Duncker Streett & Co. Inc. raised its position in shares of Cardinal Health by 10.2% in the second quarter. Duncker Streett & Co. Inc. now owns 6,768 shares of the company’s stock valued at $527,000 after buying an additional 629 shares during the period. Private Bank & Trust Co. raised its position in shares of Cardinal Health by 1.4% in the second quarter. Private Bank & Trust Co. now owns 12,336 shares of the company’s stock valued at $961,000 after buying an additional 172 shares during the period. APG Asset Management N.V. raised its position in shares of Cardinal Health by 1.1% in the second quarter. APG Asset Management N.V. now owns 1,457,594 shares of the company’s stock valued at $113,576,000 after buying an additional 16,520 shares during the period. Farmers & Merchants Investments Inc. increased its stake in Cardinal Health by 22.2% in the second quarter. Farmers & Merchants Investments Inc. now owns 49,641 shares of the company’s stock worth $3,868,000 after buying an additional 9,002 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC increased its stake in Cardinal Health by 6.6% in the second quarter. Osborn Williams & Donohoe LLC now owns 24,882 shares of the company’s stock worth $1,939,000 after buying an additional 1,551 shares in the last quarter. Institutional investors and hedge funds own 86.41% of the company’s stock.
Cardinal Health, Inc. (NYSE CAH) traded down 0.19% during mid-day trading on Monday, hitting $66.85. The stock had a trading volume of 1,129,607 shares. The company has a market cap of $21.12 billion, a PE ratio of 16.59 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’s 50-day moving average price is $75.67 and its 200 day moving average price is $76.86.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 26.20% and a net margin of 0.99%. Cardinal Health’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. On average, equities research analysts anticipate that Cardinal Health, Inc. will post $4.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 45.79%.
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A number of research firms have recently weighed in on CAH. UBS AG reaffirmed a “neutral” rating and issued a $76.00 target price (down from $79.00) on shares of Cardinal Health in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. BidaskClub downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Cowen and Company reissued a “market perform” rating and set a $77.00 price objective (down from $82.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Finally, Credit Suisse Group cut their price objective on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target 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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