Bp Plc continued to hold its stake in Cardinal Health Inc. (NYSE:CAH) during the second quarter, Holdings Channel reports. The firm owned 27,000 shares of the company’s stock at the end of the second quarter. Bp Plc’s holdings in Cardinal Health were worth $2,106,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Asset Management Company LTD increased its stake in Cardinal Health by 1.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 25,212 shares of the company’s stock worth $1,966,000 after buying an additional 394 shares in the last quarter. Henderson Group PLC increased its position in shares of Cardinal Health by 9.0% in the second quarter. Henderson Group PLC now owns 814,276 shares of the company’s stock worth $63,526,000 after buying an additional 67,282 shares during the period. Stevens First Principles Investment Advisors increased its position in shares of Cardinal Health by 2.9% in the second quarter. Stevens First Principles Investment Advisors now owns 27,520 shares of the company’s stock worth $2,147,000 after buying an additional 765 shares during the period. Whittier Trust Co. increased its position in shares of Cardinal Health by 3.6% in the second quarter. Whittier Trust Co. now owns 62,060 shares of the company’s stock worth $4,841,000 after buying an additional 2,130 shares during the period. Finally, SignalPoint Asset Management LLC acquired a new position in shares of Cardinal Health during the second quarter worth $201,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cardinal Health Inc. (NYSE:CAH) traded down 0.41% on Monday, hitting $74.96. 1,050,142 shares of the stock traded hands. The firm has a market cap of $23.88 billion, a P/E ratio of 17.35 and a beta of 0.64. Cardinal Health Inc. has a 52 week low of $73.25 and a 52 week high of $91.23. The stock has a 50-day moving average price of $77.64 and a 200 day moving average price of $79.99.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. The firm earned $31.40 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 earnings per share. Equities research analysts predict that Cardinal Health Inc. will post $5.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Monday, October 3rd were paid a dividend of $0.4489 per share. The ex-dividend date was Thursday, September 29th. This represents a $1.80 annualized dividend and a yield of 2.40%. Cardinal Health’s payout ratio is 41.67%.
CAH has been the topic of a number of recent analyst reports. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Cardinal Health in a research report on Wednesday, July 6th. Credit Suisse Group AG reissued a “buy” rating and set a $97.00 price target on shares of Cardinal Health in a research report on Tuesday, August 30th. Leerink Swann reissued an “outperform” rating and set a $92.00 price target on shares of Cardinal Health in a research report on Monday, June 20th. Bank of America Corp. reissued a “hold” rating and set a $90.00 price target on shares of Cardinal Health in a research report on Monday, September 19th. Finally, Morgan Stanley restated a “hold” rating and set a $91.00 price objective on shares of Cardinal Health in a report on Monday, September 12th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $94.76.
In related news, CEO George S. Barrett sold 129,818 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $83.76, for a total transaction of $10,873,555.68. Following the completion of the transaction, the chief executive officer now directly owns 510,762 shares of the company’s stock, valued at $42,781,425.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Donald M. Jr. Casey sold 59,180 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $83.59, for a total transaction of $4,946,856.20. Following the transaction, the chief executive officer now directly owns 164,803 shares of the company’s stock, valued at $13,775,882.77. The disclosure for this sale can be found here. Corporate insiders own 0.94% of the company’s stock.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States, the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers, hospitals and other healthcare providers.
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