South State Corp lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 40.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,981 shares of the company’s stock after selling 2,020 shares during the period. South State Corp’s holdings in Cardinal Health were worth $232,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sheets Smith Wealth Management increased its stake in shares of Cardinal Health by 0.8% during the second quarter. Sheets Smith Wealth Management now owns 36,800 shares of the company’s stock valued at $2,867,000 after buying an additional 300 shares during the period. Morgan Stanley increased its stake in shares of Cardinal Health by 24.6% during the first quarter. Morgan Stanley now owns 2,035,339 shares of the company’s stock valued at $165,981,000 after buying an additional 402,151 shares during the period. Brandes Investment Partners LP purchased a new position in shares of Cardinal Health during the second quarter valued at $2,464,000. Janney Montgomery Scott LLC increased its stake in shares of Cardinal Health by 40.2% during the second quarter. Janney Montgomery Scott LLC now owns 49,607 shares of the company’s stock valued at $3,865,000 after buying an additional 14,228 shares during the period. Finally, Park National Corp OH increased its stake in shares of Cardinal Health by 2.0% during the second quarter. Park National Corp OH now owns 5,983 shares of the company’s stock valued at $466,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 87.68% of the company’s stock.

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Several brokerages have recently commented on CAH. Evercore ISI restated an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, July 4th. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Credit Suisse Group restated an “outperform” rating and set a $87.00 price target (up previously from $81.00) on shares of Cardinal Health in a research note on Thursday, July 13th. BidaskClub lowered Cardinal Health from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC restated a “hold” rating and set a $77.00 price target on shares of Cardinal Health in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Cardinal Health has a consensus rating of “Hold” and an average price target of $79.58.

Shares of Cardinal Health, Inc. (NYSE:CAH) opened at 69.29 on Thursday. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month high of $84.88. The firm has a market capitalization of $21.93 billion, a PE ratio of 17.19 and a beta of 0.85. The company has a 50 day moving average price of $69.10 and a 200-day moving average price of $75.25.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share 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 return on equity of 26.20% and a net margin of 0.99%. Cardinal Health’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. Equities research analysts expect that Cardinal Health, Inc. will post $4.96 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be issued a $0.4624 dividend. This represents a $1.85 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio is currently 45.79%.

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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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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