First Fiduciary Investment Counsel Inc. Has $11.99 Million Stake in Cardinal Health, Inc. (CAH)
First Fiduciary Investment Counsel Inc. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,928 shares of the company’s stock after selling 170 shares during the quarter. Cardinal Health comprises 2.3% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 22nd biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in Cardinal Health were worth $11,994,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Cardinal Health by 31.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock worth $123,000 after acquiring an additional 382 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 14.3% during the 2nd quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock worth $152,000 after acquiring an additional 244 shares during the last quarter. Dupont Capital Management Corp acquired a new position in shares of Cardinal Health during the 2nd quarter worth approximately $164,000. First Personal Financial Services increased its holdings in shares of Cardinal Health by 127.5% during the 2nd quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock worth $172,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Sun Life Financial INC increased its holdings in shares of Cardinal Health by 16,228.6% during the 2nd quarter. Sun Life Financial INC now owns 2,286 shares of the company’s stock worth $178,000 after acquiring an additional 2,272 shares during the last quarter. 87.98% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. UBS AG reissued a “neutral” rating and set a $76.00 target price (down from $79.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $87.00 price objective (up from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. BidaskClub lowered Cardinal Health from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $77.00 price objective (down from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Cardinal Health has a consensus rating of “Hold” and a consensus price target of $76.54.
Cardinal Health, Inc. (NYSE:CAH) traded down 2.0113% during mid-day trading on Friday, hitting $64.9959. The stock had a trading volume of 2,124,104 shares. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.88. The stock has a market capitalization of $20.57 billion, a P/E ratio of 16.1280 and a beta of 0.86. The company’s 50 day moving average is $67.26 and its 200-day moving average is $72.98.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 earnings per share. On average, analysts expect that Cardinal Health, Inc. will post $4.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be given a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, September 29th. Cardinal Health’s payout ratio 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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