Welch & Forbes LLC lowered its position in shares of Cardinal Health Inc (NYSE:CAH) by 12.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,285 shares of the company’s stock after selling 1,885 shares during the quarter. Welch & Forbes LLC’s holdings in Cardinal Health were worth $717,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in CAH. Macquarie Group Ltd. raised its holdings in shares of Cardinal Health by 19.7% during the second quarter. Macquarie Group Ltd. now owns 12,544,267 shares of the company’s stock valued at $612,537,000 after acquiring an additional 2,067,829 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Cardinal Health by 10,011.2% in the second quarter. Millennium Management LLC now owns 2,019,314 shares of the company’s stock valued at $98,603,000 after purchasing an additional 1,999,343 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Cardinal Health by 52.2% in the second quarter. American Century Companies Inc. now owns 4,461,439 shares of the company’s stock valued at $217,852,000 after purchasing an additional 1,530,702 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of Cardinal Health by 63.4% in the second quarter. Brandes Investment Partners LP now owns 1,968,288 shares of the company’s stock valued at $96,112,000 after purchasing an additional 763,486 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV increased its holdings in shares of Cardinal Health by 2,109.3% in the second quarter. Mainstay Capital Management LLC ADV now owns 753,361 shares of the company’s stock valued at $15,888,000 after purchasing an additional 719,261 shares during the last quarter. 90.56% of the stock is owned by institutional investors and hedge funds.
CAH stock opened at $53.19 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.07 and a debt-to-equity ratio of 1.32. The firm has a market cap of $16.02 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02. Cardinal Health Inc has a 52-week low of $48.14 and a 52-week high of $75.75.
Cardinal Health (NYSE:CAH) last posted its earnings results on Monday, August 6th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. The company had revenue of $35.35 billion during the quarter, compared to analysts’ expectations of $34.38 billion. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. As a group, equities research analysts anticipate that Cardinal Health Inc will post 5.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were paid a dividend of $0.4763 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 28th. This represents a $1.91 annualized dividend and a yield of 3.58%. Cardinal Health’s dividend payout ratio (DPR) is 38.20%.
CAH has been the subject of several recent research reports. Argus cut their price target on Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, July 16th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $56.00 price target on shares of Cardinal Health in a report on Tuesday, August 7th. Robert W. Baird reaffirmed a “hold” rating and issued a $51.00 price target on shares of Cardinal Health in a report on Friday, July 20th. Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Finally, Mizuho reaffirmed a “hold” rating and issued a $53.00 price target on shares of Cardinal Health in a report on Sunday, August 12th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.33.
In other Cardinal Health 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 transaction of $150,135.50. Following the completion of the sale, the chief executive officer now owns 72,652 shares of the company’s stock, valued at $3,774,271.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.
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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