Huntington National Bank Sells 29,293 Shares of Cardinal Health Inc. (CAH)
Huntington National Bank decreased its stake in shares of Cardinal Health Inc. (NYSE:CAH) by 17.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,033 shares of the company’s stock after selling 29,293 shares during the period. Huntington National Bank’s holdings in Cardinal Health were worth $10,690,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Wellington Management Group LLP raised its stake in shares of Cardinal Health by 3.4% in the first quarter. Wellington Management Group LLP now owns 33,248,030 shares of the company’s stock valued at $2,724,677,000 after buying an additional 1,108,446 shares during the period. Royal Bank of Canada raised its stake in shares of Cardinal Health by 2.8% in the first quarter. Royal Bank of Canada now owns 1,927,963 shares of the company’s stock valued at $157,997,000 after buying an additional 52,912 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Cardinal Health by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 1,818,018 shares of the company’s stock valued at $148,985,000 after buying an additional 15,770 shares during the period. Nordea Investment Management AB raised its stake in shares of Cardinal Health by 13.5% in the second quarter. Nordea Investment Management AB now owns 1,603,853 shares of the company’s stock valued at $125,117,000 after buying an additional 190,197 shares during the period. Finally, Investec Asset Management LTD raised its stake in shares of Cardinal Health by 10.0% in the first quarter. Investec Asset Management LTD now owns 1,257,947 shares of the company’s stock valued at $103,089,000 after buying an additional 113,982 shares during the period. 85.79% of the stock is owned by institutional investors.
Cardinal Health Inc. (NYSE:CAH) traded up 0.84% during trading on Wednesday, hitting $75.95. The stock had a trading volume of 898,897 shares. The firm has a 50 day moving average of $78.10 and a 200-day moving average of $80.09. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 17.58 and a beta of 0.63. Cardinal Health Inc. has a 12 month low of $73.25 and a 12 month high of $91.23.
Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. The business had revenue of $31.40 billion for the quarter, compared to analyst estimates of $31.06 billion. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share. Equities analysts predict that Cardinal Health Inc. will post $5.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.4489 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 41.67%.
Several brokerages have issued reports on CAH. Deutsche Bank AG lifted their price target on Cardinal Health from $83.00 to $89.00 and gave the stock a “hold” rating in a research note on Thursday, August 4th. Leerink Swann restated a “buy” rating on shares of Cardinal Health in a report on Wednesday, August 3rd. FBR & Co restated a “buy” rating on shares of Cardinal Health in a report on Monday, June 20th. Citigroup Inc. boosted their price target on Cardinal Health from $87.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Finally, Morgan Stanley restated a “hold” rating on shares of Cardinal Health in a report on Wednesday, June 15th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $94.76.
In related news, SVP Stuart G. Laws sold 9,703 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $82.45, for a total transaction of $800,012.35. Following the transaction, the senior vice president now directly owns 2,718 shares of the company’s stock, valued at $224,099.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Patricia Morrison sold 43,959 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $82.50, for a total transaction of $3,626,617.50. Following the transaction, the insider now directly owns 99,662 shares in the company, valued at $8,222,115. The disclosure for this sale can be found here. 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 in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States, the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers, hospitals and other healthcare providers.
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