Laffer Investments Has $2,056,000 Stake in Cardinal Health, Inc. (CAH)
Laffer Investments held its stake in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,383 shares of the company’s stock at the close of the second quarter. Laffer Investments’ holdings in Cardinal Health were worth $2,056,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Alpha Windward LLC lifted its holdings in shares of Cardinal Health by 0.7% during the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock worth $179,000 after purchasing an additional 17 shares during the period. HL Financial Services LLC lifted its holdings in shares of Cardinal Health by 0.3% during the first quarter. HL Financial Services LLC now owns 11,887 shares of the company’s stock worth $969,000 after purchasing an additional 38 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Cardinal Health by 0.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,321 shares of the company’s stock worth $353,000 after purchasing an additional 39 shares during the period. Wetherby Asset Management Inc. lifted its holdings in shares of Cardinal Health by 0.5% during the second quarter. Wetherby Asset Management Inc. now owns 8,392 shares of the company’s stock worth $654,000 after purchasing an additional 44 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Cardinal Health by 1.2% during the second quarter. Bessemer Group Inc. now owns 4,238 shares of the company’s stock worth $330,000 after purchasing an additional 51 shares during the period. Institutional investors own 87.63% of the company’s stock.
Cardinal Health, Inc. (CAH) traded down 1.13% during midday trading on Tuesday, reaching $66.31. 767,129 shares of the company’s stock traded hands. The company’s 50-day moving average price is $68.00 and its 200-day moving average price is $74.84. Cardinal Health, Inc. has a 52-week low of $62.70 and a 52-week high of $84.88. The stock has a market cap of $20.98 billion, a P/E ratio of 16.45 and a beta of 0.85.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ 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 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 period in the prior year, the business earned $1.14 EPS. On average, equities analysts predict 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. 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 yield of 2.76%. Cardinal Health’s dividend payout ratio is currently 45.79%.
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A number of equities analysts recently weighed in on the stock. Vetr downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 target price for the company. in a research note on Thursday, June 1st. BidaskClub downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. UBS AG reissued a “neutral” rating and set a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Credit Suisse Group lowered their target price on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. Cardinal Health has an average rating of “Hold” and a consensus target price of $77.91.
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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