Sentry Investment Management LLC bought a new position in Cardinal Health Inc (NYSE:CAH) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,694 shares of the company’s stock, valued at approximately $132,000.
A number of other hedge funds have also recently modified their holdings of CAH. Global X Management Co. LLC raised its stake in Cardinal Health by 8.4% during the first quarter. Global X Management Co. LLC now owns 11,087 shares of the company’s stock worth $695,000 after acquiring an additional 857 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Cardinal Health by 58.0% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 9,530 shares of the company’s stock worth $597,000 after acquiring an additional 3,499 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Cardinal Health by 71.2% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 29,012 shares of the company’s stock worth $1,818,000 after acquiring an additional 12,065 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Cardinal Health during the first quarter worth $1,218,000. Finally, SG Americas Securities LLC raised its stake in Cardinal Health by 307.3% during the first quarter. SG Americas Securities LLC now owns 90,046 shares of the company’s stock worth $5,644,000 after acquiring an additional 133,488 shares in the last quarter. 87.89% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:CAH opened at $51.23 on Wednesday. Cardinal Health Inc has a twelve month low of $48.14 and a twelve month high of $75.75. The firm has a market capitalization of $16.12 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 1.72 and a beta of 1.04. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.07 and a quick ratio of 0.53.
Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, August 6th. The company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The company had revenue of $35.35 billion during the quarter, compared to analyst estimates of $34.38 billion. During the same period last year, the company posted $1.31 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. equities analysts anticipate that Cardinal Health Inc will post 5.04 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be paid a $0.4763 dividend. The ex-dividend date of this dividend is Friday, September 28th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.72%. Cardinal Health’s dividend payout ratio (DPR) is 38.20%.
CAH has been the subject of several recent analyst reports. Royal Bank of Canada reiterated a “hold” rating and set a $56.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 7th. Argus dropped their price objective on Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, July 16th. Morgan Stanley dropped their price objective on Cardinal Health from $55.00 to $40.00 and set an “underweight” rating for the company in a research note on Tuesday, July 3rd. Robert W. Baird reiterated a “hold” rating and set a $51.00 price objective on shares of Cardinal Health in a research note on Friday, July 20th. Finally, Mizuho reiterated a “hold” rating and set a $53.00 price objective on shares of Cardinal Health in a research note on Sunday, August 12th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $62.00.
In other news, CEO Jon L. Giacomin sold 2,890 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $51.95, for a total value of $150,135.50. Following the completion of the sale, the chief executive officer now directly owns 72,652 shares in the company, valued at $3,774,271.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.97% of the company’s stock.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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