Standard Life Investments LTD lowered its stake in shares of Cardinal Health Inc. (NYSE:CAH) by 56.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,106 shares of the company’s stock after selling 756,997 shares during the period. Standard Life Investments LTD’s holdings in Cardinal Health were worth $45,179,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new stake in Cardinal Health during the first quarter valued at $107,000. Integrated Investment Consultants LLC raised its stake in Cardinal Health by 15.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,459 shares of the company’s stock valued at $114,000 after buying an additional 195 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in Cardinal Health by 8,281.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,760 shares of the company’s stock valued at $137,000 after buying an additional 1,739 shares during the last quarter. Advisory Services Network LLC raised its stake in Cardinal Health by 398.2% in the second quarter. Advisory Services Network LLC now owns 1,948 shares of the company’s stock valued at $152,000 after buying an additional 1,557 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Cardinal Health by 27.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,480 shares of the company’s stock valued at $193,000 after buying an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 85.79% of the company’s stock.
Shares of Cardinal Health Inc. (NYSE:CAH) traded up 0.25% during midday trading on Wednesday, reaching $75.88. 1,864,686 shares of the company’s stock were exchanged. The company has a market capitalization of $24.17 billion, a PE ratio of 17.56 and a beta of 0.63. Cardinal Health Inc. has a 1-year low of $73.25 and a 1-year high of $91.23. The firm has a 50-day moving average of $78.79 and a 200-day moving average of $80.24.
Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.01. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. The company earned $31.40 billion during the quarter, compared to analyst estimates of $31.06 billion. During the same period last year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities analysts expect that Cardinal Health Inc. will post $5.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be given a $0.4489 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.37%. Cardinal Health’s payout ratio is 41.67%.
Several research firms have weighed in on CAH. Bank of America Corp. reiterated a “hold” rating and set a $90.00 target price on shares of Cardinal Health in a research note on Monday, September 19th. Royal Bank Of Canada reiterated a “buy” rating on shares of Cardinal Health in a research note on Monday, June 13th. Deutsche Bank AG upped their price target on shares of Cardinal Health from $83.00 to $89.00 and gave the stock a “hold” rating in a research report on Thursday, August 4th. Leerink Swann restated a “buy” rating on shares of Cardinal Health in a research report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. lowered shares of Cardinal Health from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $90.00 to $83.00 in a research report on Friday, September 16th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Cardinal Health has a consensus rating of “Buy” and a consensus target price of $94.76.
In related news, SVP Stuart G. Laws sold 9,703 shares of Cardinal Health stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $82.45, for a total value of $800,012.35. Following the completion of the sale, the senior vice president now directly owns 2,718 shares in the company, valued at $224,099.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George S. Barrett sold 129,818 shares of Cardinal Health stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $83.76, for a total value of $10,873,555.68. Following the completion of the sale, the chief executive officer now owns 510,762 shares of the company’s stock, valued at $42,781,425.12. The disclosure for this sale can be found here. 0.94% of the stock is owned by corporate insiders.
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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