New York State Common Retirement Fund Lowers Holdings in Cardinal Health, Inc. (CAH)
New York State Common Retirement Fund decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,010,887 shares of the company’s stock after selling 22,721 shares during the period. New York State Common Retirement Fund owned approximately 0.32% of Cardinal Health worth $78,768,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Artisan Partners Limited Partnership purchased a new stake in shares of Cardinal Health in the second quarter valued at about $41,953,000. Sivik Global Healthcare LLC raised its holdings in shares of Cardinal Health by 42.9% in the second quarter. Sivik Global Healthcare LLC now owns 50,000 shares of the company’s stock valued at $3,896,000 after purchasing an additional 15,000 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Cardinal Health by 7.6% in the second quarter. ProShare Advisors LLC now owns 851,222 shares of the company’s stock valued at $66,327,000 after purchasing an additional 59,765 shares during the last quarter. Profund Advisors LLC raised its holdings in shares of Cardinal Health by 20.7% in the second quarter. Profund Advisors LLC now owns 10,571 shares of the company’s stock valued at $824,000 after purchasing an additional 1,812 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Cardinal Health by 45.5% in the second quarter. Amalgamated Bank now owns 35,617 shares of the company’s stock valued at $2,775,000 after purchasing an additional 11,136 shares during the last quarter. Hedge funds and other institutional investors own 87.63% of the company’s stock.
CAH has been the subject of several analyst reports. 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 report on Thursday, June 1st. ValuEngine downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. Evercore ISI reiterated an “outperform” rating on shares of Cardinal Health in a report on Tuesday, July 4th. Finally, BidaskClub downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $76.81.
Cardinal Health, Inc. (CAH) traded up 0.62% during trading on Wednesday, reaching $66.67. 81,008 shares of the company traded hands. The company’s 50-day moving average price is $67.69 and its 200 day moving average price is $74.72. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.88. The firm has a market capitalization of $21.10 billion, a price-to-earnings ratio of 16.54 and a beta of 0.85.
Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Cardinal Health’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts expect that Cardinal Health, Inc. will post $4.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be given a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is 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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