Bridgewater Wealth & Financial Management LLC Lowers Position in Cardinal Health, Inc. (CAH)
Bridgewater Wealth & Financial Management LLC decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,960 shares of the company’s stock after selling 100 shares during the period. Bridgewater Wealth & Financial Management LLC’s holdings in Cardinal Health were worth $464,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Cardinal Health by 1,041.8% in the first quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock valued at $1,748,835,000 after buying an additional 19,566,764 shares in the last quarter. FMR LLC raised its stake in Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock valued at $482,391,000 after buying an additional 1,895,089 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in Cardinal Health during the first quarter valued at $86,386,000. Vanguard Group Inc. raised its stake in Cardinal Health by 3.8% in the first quarter. Vanguard Group Inc. now owns 23,201,310 shares of the company’s stock valued at $1,892,067,000 after buying an additional 843,212 shares in the last quarter. Finally, Ariel Investments LLC raised its stake in Cardinal Health by 1,944.5% in the first quarter. Ariel Investments LLC now owns 746,789 shares of the company’s stock valued at $60,901,000 after buying an additional 710,263 shares in the last quarter. Institutional investors own 86.41% of the company’s stock.
Cardinal Health, Inc. (NYSE CAH) opened at 66.0542 on Thursday. The stock has a market cap of $20.90 billion, a PE ratio of 16.3906 and a beta of 0.80. The stock has a 50 day moving average price of $74.55 and a 200 day moving average price of $76.72. Cardinal Health, Inc. has a 1-year low of $62.70 and a 1-year high of $84.88.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. The business had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. On average, analysts predict that Cardinal Health, Inc. will post $4.97 EPS for the current fiscal year.
The business 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 dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.80%. Cardinal Health’s payout ratio is currently 45.79%.
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Several equities research analysts recently weighed in on CAH shares. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Credit Suisse Group restated a “buy” rating and set a $81.00 price target on shares of Cardinal Health in a research report on Tuesday, May 2nd. William Blair lowered Cardinal Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 19th. Tigress Financial started coverage on Cardinal Health in a research report on Friday, April 28th. They set a “neutral” rating on the stock. Finally, Jefferies Group LLC started coverage on Cardinal Health in a research report on Wednesday, May 17th. They set a “hold” rating and a $77.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $80.46.
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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