Forward Management LLC Has $1.48 Million Position in Cardinal Health, Inc. (NYSE:CAH)
Forward Management LLC boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.9% during the second quarter, Holdings Channel reports. The fund owned 18,998 shares of the company’s stock after buying an additional 883 shares during the period. Forward Management LLC’s holdings in Cardinal Health were worth $1,481,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the stock. Wetherby Asset Management Inc. boosted its position in shares of Cardinal Health by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 8,392 shares of the company’s stock valued at $654,000 after buying an additional 44 shares during the last quarter. Rockland Trust Co. purchased a new position in shares of Cardinal Health during the second quarter valued at approximately $958,000. Global X Management Co. LLC boosted its position in shares of Cardinal Health by 11.9% in the second quarter. Global X Management Co. LLC now owns 4,421 shares of the company’s stock valued at $344,000 after buying an additional 471 shares during the last quarter. HL Financial Services LLC boosted its position in shares of Cardinal Health by 1.1% in the second quarter. HL Financial Services LLC now owns 12,017 shares of the company’s stock valued at $936,000 after buying an additional 130 shares during the last quarter. Finally, Seven Bridges Advisors LLC boosted its position in shares of Cardinal Health by 35.8% in the second quarter. Seven Bridges Advisors LLC now owns 9,937 shares of the company’s stock valued at $774,000 after buying an additional 2,620 shares during the last quarter. Institutional investors own 87.09% of the company’s stock.
Shares of Cardinal Health, Inc. (NYSE:CAH) opened at 67.31 on Friday. The firm’s 50-day moving average is $76.01 and its 200-day moving average is $76.91. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.88. The company has a market capitalization of $21.27 billion, a price-to-earnings ratio of 16.70 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. The firm had revenue of $32.97 billion for the quarter, compared to the consensus estimate of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. On average, equities analysts predict that Cardinal Health, Inc. will post $4.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 45.79%.
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Several equities analysts have recently commented on the stock. UBS AG restated 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. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday. BidaskClub lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Cowen and Company reaffirmed a “market perform” rating and set a $77.00 price target (down from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Finally, Credit Suisse Group decreased their price target on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and an average 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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