Cardinal Health Inc. (CAH) Shares Sold by Cooke & Bieler LP
Cooke & Bieler LP decreased its position in Cardinal Health Inc. (NYSE:CAH) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,204,871 shares of the company’s stock after selling 3,380 shares during the period. Cardinal Health makes up about 2.1% of Cooke & Bieler LP’s holdings, making the stock its 16th largest position. Cooke & Bieler LP’s holdings in Cardinal Health were worth $93,992,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. 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 worth $2,724,677,000 after buying an additional 1,108,446 shares in the last quarter. 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 worth $157,997,000 after buying an additional 52,912 shares in the last quarter. 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 worth $125,117,000 after buying an additional 190,197 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Cardinal Health by 7.5% in the second quarter. Acadian Asset Management LLC now owns 865,024 shares of the company’s stock worth $67,481,000 after buying an additional 60,295 shares in the last quarter. Finally, PGGM Investments raised its stake in shares of Cardinal Health by 56.8% in the second quarter. PGGM Investments now owns 860,610 shares of the company’s stock worth $67,136,000 after buying an additional 311,842 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.
Cardinal Health Inc. (NYSE:CAH) traded down 0.41% during midday trading on Monday, hitting $74.96. The company’s stock had a trading volume of 1,049,608 shares. The firm has a market cap of $23.88 billion, a P/E ratio of 17.35 and a beta of 0.64. Cardinal Health Inc. has a 12 month low of $73.25 and a 12 month high of $91.23. The company’s 50 day moving average price is $77.64 and its 200 day moving average price is $79.99.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The company earned $31.40 billion during the quarter, compared to analyst estimates of $31.06 billion. During the same period in the previous year, the business earned $1.00 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts expect that Cardinal Health Inc. will post $5.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Monday, October 3rd were issued a $0.4489 dividend. The ex-dividend date was Thursday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.40%. Cardinal Health’s payout ratio is currently 41.67%.
A number of analysts have commented on CAH shares. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Morgan Stanley reissued a “hold” rating and set a $91.00 price objective on shares of Cardinal Health in a report on Monday, September 12th. FBR & Co reissued a “buy” rating on shares of Cardinal Health in a report on Monday, June 20th. Leerink Swann reissued an “outperform” rating and set a $92.00 price objective on shares of Cardinal Health in a report on Monday, June 20th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $97.00 target price on shares of Cardinal Health in a report on Tuesday, August 30th. Nine 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 company’s stock. The company has an average rating of “Buy” and a consensus price target of $94.76.
In related news, CEO Donald M. Jr. Casey sold 59,180 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $83.59, for a total value of $4,946,856.20. Following the completion of the transaction, the chief executive officer now directly owns 164,803 shares in the company, valued at approximately $13,775,882.77. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Stuart G. Laws sold 9,703 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $82.45, for a total transaction of $800,012.35. Following the completion of the transaction, the senior vice president now owns 2,718 shares of the company’s stock, valued at $224,099.10. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by corporate insiders.
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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