Dividend Assets Capital LLC Sells 34,074 Shares of Cardinal Health, Inc. (NYSE:CAH)
Dividend Assets Capital LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 551,648 shares of the company’s stock after selling 34,074 shares during the period. Cardinal Health accounts for approximately 1.7% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 27th largest position. Dividend Assets Capital LLC’s holdings in Cardinal Health were worth $42,984,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in CAH. Alpha Windward LLC increased its stake in Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares in the last quarter. HL Financial Services LLC increased its stake in Cardinal Health by 0.3% in the first quarter. HL Financial Services LLC now owns 11,887 shares of the company’s stock valued at $969,000 after buying an additional 38 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in Cardinal Health by 0.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,321 shares of the company’s stock valued at $353,000 after buying an additional 39 shares in the last quarter. Wetherby Asset Management Inc. increased its stake in 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 in the last quarter. Finally, Bessemer Group Inc. increased its stake in Cardinal Health by 1.2% in the second quarter. Bessemer Group Inc. now owns 4,238 shares of the company’s stock valued at $330,000 after buying an additional 51 shares in the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.
Cardinal Health, Inc. (CAH) opened at 66.98 on Friday. The firm has a market cap of $21.17 billion, a P/E ratio of 16.62 and a beta of 0.80. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month high of $84.88. The firm’s 50-day moving average price is $75.67 and its 200-day moving average price is $76.86.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The firm had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. On average, equities research analysts expect that Cardinal Health, Inc. will post $4.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be paid a $0.4624 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.85 annualized dividend and a yield of 2.76%. Cardinal Health’s dividend payout ratio (DPR) is 45.79%.
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Several analysts have issued reports on the company. William Blair downgraded Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. Jefferies Group LLC assumed coverage on Cardinal Health in a research note on Wednesday, May 17th. They issued a “hold” rating and a $77.00 price target on the stock. ValuEngine downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Vetr raised Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 price target on the stock in a research note on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price 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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