Comerica Securities Inc. Has $431,000 Holdings in Cardinal Health, Inc. (CAH)
Comerica Securities Inc. lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 86.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,496 shares of the company’s stock after selling 35,083 shares during the period. Comerica Securities Inc.’s holdings in Cardinal Health were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Sheets Smith Wealth Management raised its position in Cardinal Health by 0.8% in the 2nd quarter. Sheets Smith Wealth Management now owns 36,800 shares of the company’s stock valued at $2,867,000 after purchasing an additional 300 shares in the last quarter. Brandes Investment Partners LP acquired a new stake in Cardinal Health in the 2nd quarter valued at about $2,464,000. Morgan Stanley raised its position in Cardinal Health by 24.6% in the 1st quarter. Morgan Stanley now owns 2,035,339 shares of the company’s stock valued at $165,981,000 after purchasing an additional 402,151 shares in the last quarter. Victory Capital Management Inc. raised its position in Cardinal Health by 202.1% in the 2nd quarter. Victory Capital Management Inc. now owns 61,304 shares of the company’s stock valued at $4,776,000 after purchasing an additional 41,013 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in Cardinal Health in the 2nd quarter valued at about $164,000. 87.68% of the stock is currently owned by institutional investors.
Cardinal Health, Inc. (NYSE:CAH) traded up 0.06% on Friday, reaching $67.50. The company’s stock had a trading volume of 4,676,862 shares. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.88. The company has a market capitalization of $21.36 billion, a price-to-earnings ratio of 16.75 and a beta of 0.85. The firm’s 50 day moving average price is $68.30 and its 200-day moving average price is $75.04.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Cardinal Health’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Cardinal Health, Inc. will post $4.96 EPS for the current 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 dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, September 29th. Cardinal Health’s payout ratio is currently 45.79%.
A number of research firms have issued reports on CAH. UBS AG reaffirmed a “neutral” rating and issued a $76.00 price target (down previously from $79.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $87.00 price target (up previously from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. BidaskClub lowered Cardinal Health from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $77.00 price target (down previously from $82.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. Cardinal Health presently has an average rating of “Hold” and a consensus target price of $79.58.
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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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