Cardinal Health Inc (CAH) Shares Sold by Regent Investment Management LLC
Regent Investment Management LLC cut its position in Cardinal Health Inc (NYSE:CAH) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 10,377 shares of the company’s stock after selling 243 shares during the period. Regent Investment Management LLC’s holdings in Cardinal Health were worth $846,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of CAH. Rice Hall James & Associates LLC increased its stake in Cardinal Health by 1.0% in the third quarter. Rice Hall James & Associates LLC now owns 23,476 shares of the company’s stock worth $1,824,000 after buying an additional 236 shares during the period. Kwmg LLC acquired a new stake in Cardinal Health during the third quarter worth $291,000. IFC Holdings Incorporated FL increased its stake in Cardinal Health by 2.8% in the third quarter. IFC Holdings Incorporated FL now owns 3,278 shares of the company’s stock worth $254,000 after buying an additional 90 shares during the period. Riverbridge Partners LLC increased its stake in Cardinal Health by 1.6% in the third quarter. Riverbridge Partners LLC now owns 20,672 shares of the company’s stock worth $1,606,000 after buying an additional 335 shares during the period. Finally, CENTRAL TRUST Co increased its stake in Cardinal Health by 22.1% in the third quarter. CENTRAL TRUST Co now owns 6,375 shares of the company’s stock worth $495,000 after buying an additional 1,154 shares during the period. Hedge funds and other institutional investors own 85.84% of the company’s stock.
Shares of Cardinal Health Inc (NYSE:CAH) traded down 11.54% during trading on Tuesday, reaching $72.39. 8,432,137 shares of the company’s stock were exchanged. The company has a 50 day moving average of $81.93 and a 200 day moving average of $75.95. The stock has a market cap of $22.84 billion, a P/E ratio of 17.43 and a beta of 0.71. Cardinal Health Inc has a 12-month low of $62.70 and a 12-month high of $87.85.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.11. The business had revenue of $33.10 billion for the quarter, compared to the consensus estimate of $33.63 billion. Cardinal Health had a net margin of 1.06% and a return on equity of 25.52%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.30 earnings per share. Equities research analysts anticipate that Cardinal Health Inc will post $5.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 15th. Shareholders of record on Monday, April 3rd were issued a dividend of $0.4489 per share. This represents a $1.80 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, March 30th. Cardinal Health’s payout ratio is 43.17%.
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CAH has been the topic of a number of research reports. Leerink Swann downgraded shares of Cardinal Health from an “outperform” rating to a “market perform” rating and set a $75.00 target price on the stock. in a report on Wednesday, December 21st. Mizuho downgraded shares of Cardinal Health from a “buy” rating to a “neutral” rating and set a $79.00 target price on the stock. in a report on Tuesday, January 3rd. Vetr downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating and set a $76.99 target price on the stock. in a report on Tuesday, January 3rd. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, February 10th. Finally, Needham & Company LLC initiated coverage on shares of Cardinal Health in a report on Tuesday, April 4th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $88.58.
In other news, Chairman George S. Barrett sold 217,994 shares of the firm’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $77.23, for a total value of $16,835,676.62. Following the transaction, the chairman now directly owns 682,225 shares of the company’s stock, valued at $52,688,236.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.94% of the company’s stock.
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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