Cardinal Health, Inc. (CAH) Shares Sold by Twin Capital Management Inc.
Twin Capital Management Inc. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 43.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,103 shares of the company’s stock after selling 12,329 shares during the quarter. Twin Capital Management Inc.’s holdings in Cardinal Health were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Cardinal Health by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock valued at $1,842,205,000 after acquiring an additional 440,967 shares during the period. BlackRock Inc. boosted its holdings in Cardinal Health by 6.5% during the 2nd quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock valued at $1,779,958,000 after acquiring an additional 1,398,496 shares during the period. Macquarie Group Ltd. boosted its holdings in Cardinal Health by 4.6% during the 3rd quarter. Macquarie Group Ltd. now owns 10,105,374 shares of the company’s stock valued at $676,253,000 after acquiring an additional 445,399 shares during the period. Franklin Resources Inc. boosted its holdings in Cardinal Health by 72.1% during the 2nd quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock valued at $489,613,000 after acquiring an additional 2,632,836 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Cardinal Health by 38.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,930,457 shares of the company’s stock valued at $329,964,000 after acquiring an additional 1,373,334 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.
Cardinal Health, Inc. (CAH) opened at $58.90 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52. The stock has a market capitalization of $18,480.00, a PE ratio of 11.23, a PEG ratio of 1.71 and a beta of 0.88. Cardinal Health, Inc. has a 52 week low of $54.66 and a 52 week high of $84.88.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $32.64 billion during the quarter, compared to analysts’ expectations of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS. sell-side analysts expect that Cardinal Health, Inc. will post 4.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be paid a $0.4624 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, December 29th. Cardinal Health’s payout ratio is presently 53.94%.
A number of equities analysts recently commented on the company. BidaskClub cut Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, August 4th. UBS restated a “neutral” rating and set a $76.00 target price (down from $79.00) on shares of Cardinal Health in a report on Wednesday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Cardinal Health in a report on Thursday, October 12th. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Finally, Jefferies Group lowered their target price on Cardinal Health from $77.00 to $67.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $74.81.
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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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