Cardinal Health, Inc. (CAH) Holdings Cut by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 121,071 shares of the company’s stock after selling 2,707 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cardinal Health were worth $9,433,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CAH. Bronfman E.L. Rothschild L.P. lifted its stake in Cardinal Health by 31.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock valued at $123,000 after buying an additional 382 shares during the period. JFS Wealth Advisors LLC lifted its stake in Cardinal Health by 14.3% in the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock valued at $152,000 after buying an additional 244 shares during the period. Dupont Capital Management Corp acquired a new position in Cardinal Health in the second quarter valued at approximately $164,000. First Personal Financial Services lifted its stake in Cardinal Health by 127.5% in the second quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock valued at $172,000 after buying an additional 1,238 shares during the period. Finally, Alpha Windward LLC lifted its stake in Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares during the period. 87.63% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the company. UBS AG reissued a “neutral” rating and issued a $76.00 price target (down from $79.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Credit Suisse Group restated an “outperform” rating and set a $87.00 price objective (up previously from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. BidaskClub downgraded Cardinal Health from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research downgraded Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Finally, Cowen and Company restated a “market perform” rating and set a $77.00 price objective (down previously from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $76.81.
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Cardinal Health, Inc. (NYSE CAH) opened at 66.66 on Friday. The firm has a 50-day moving average price of $67.69 and a 200-day moving average price of $74.72. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.88. The company has a market cap of $21.09 billion, a P/E ratio of 16.54 and a beta of 0.85.
Cardinal Health (NYSE:CAH) last posted its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping 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 quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. Equities research analysts anticipate 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 dividend yield of 2.77%. The ex-dividend date is Friday, September 29th. Cardinal Health’s payout ratio is currently 45.79%.
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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