Cardinal Health, Inc. (CAH) Holdings Cut by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company cut its position in Cardinal Health, Inc. (NYSE:CAH) by 33.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 463,763 shares of the company’s stock after selling 230,380 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.15% of Cardinal Health worth $36,137,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Canyon Capital Advisors LLC raised its holdings in shares of Cardinal Health by 116.0% during the second quarter. Canyon Capital Advisors LLC now owns 681,165 shares of the company’s stock valued at $53,076,000 after purchasing an additional 365,749 shares during the last quarter. Gyroscope Capital Management Group LLC increased its holdings in Cardinal Health by 11.0% during the second quarter. Gyroscope Capital Management Group LLC now owns 68,724 shares of the company’s stock valued at $5,355,000 after buying an additional 6,808 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Cardinal Health by 115.6% during the second quarter. Moors & Cabot Inc. now owns 15,751 shares of the company’s stock valued at $1,230,000 after buying an additional 8,445 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Cardinal Health during the second quarter valued at approximately $1,216,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in Cardinal Health during the second quarter valued at approximately $517,000. 87.98% of the stock is owned by institutional investors and hedge funds.
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A number of research firms have weighed in on CAH. Evercore ISI reiterated an “outperform” rating on shares of Cardinal Health in a research report on Tuesday, July 4th. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Credit Suisse Group restated an “outperform” rating and set a $87.00 target price (up previously from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. BidaskClub lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $77.00 price objective on shares of Cardinal Health in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and an average target price of $76.54.
Shares of Cardinal Health, Inc. (CAH) traded down 2.495% during midday trading on Friday, reaching $64.675. 951,829 shares of the company’s stock traded hands. The company has a market capitalization of $20.47 billion, a PE ratio of 16.048 and a beta of 0.86. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.88. The stock’s 50 day moving average is $67.26 and its 200-day moving average is $72.98.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $32.97 billion for 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 business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. On average, analysts forecast that Cardinal Health, Inc. will post $4.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be paid 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 payout ratio is 45.79%.
Cardinal Health 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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