Eastern Bank reduced its position in Cardinal Health Inc (NYSE:CAH) by 41.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,807 shares of the company’s stock after selling 4,188 shares during the period. Eastern Bank’s holdings in Cardinal Health were worth $356,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. Profund Advisors LLC lifted its stake in shares of Cardinal Health by 20.7% in the 2nd quarter. Profund Advisors LLC now owns 10,571 shares of the company’s stock valued at $824,000 after purchasing an additional 1,812 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Cardinal Health in the 2nd quarter valued at about $1,193,000. Suntrust Banks Inc. lifted its stake in shares of Cardinal Health by 10.8% in the 2nd quarter. Suntrust Banks Inc. now owns 56,314 shares of the company’s stock valued at $4,386,000 after purchasing an additional 5,483 shares in the last quarter. Cibc World Markets Corp lifted its stake in shares of Cardinal Health by 35.6% in the 2nd quarter. Cibc World Markets Corp now owns 44,641 shares of the company’s stock valued at $3,478,000 after purchasing an additional 11,709 shares in the last quarter. Finally, Advisor Group Inc. lifted its stake in shares of Cardinal Health by 8.7% in the 2nd quarter. Advisor Group Inc. now owns 19,771 shares of the company’s stock valued at $1,529,000 after purchasing an additional 1,587 shares in the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cardinal Health Inc (NYSE CAH) traded up $0.20 during trading hours on Monday, hitting $71.91. The company had a trading volume of 2,868,300 shares, compared to its average volume of 3,422,777. The stock has a market cap of $23,250.00, a P/E ratio of 20.97, a P/E/G ratio of 1.65 and a beta of 0.85. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. Cardinal Health Inc has a 1-year low of $54.66 and a 1-year high of $84.88.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The company had revenue of $32.64 billion for the quarter, compared to the consensus estimate of $33.48 billion. During the same period in the previous year, the business earned $1.24 EPS. Cardinal Health’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities research analysts expect that Cardinal Health Inc will post 5.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd were issued a dividend of $0.4624 per share. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.85 annualized dividend and a yield of 2.57%. Cardinal Health’s dividend payout ratio is presently 53.94%.
Several equities analysts have recently weighed in on the company. Robert W. Baird reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Cardinal Health in a research note on Wednesday, January 17th. Mizuho set a $70.00 target price on Cardinal Health and gave the company a “hold” rating in a report on Tuesday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a report on Thursday, October 12th. Cowen upgraded Cardinal Health to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, October 10th. Finally, Evercore ISI began coverage on Cardinal Health in a report on Thursday, January 4th. They set an “in-line” rating and a $67.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $73.58.
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Cardinal Health Company Profile
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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