First Midwest Bank Trust Division lowered its position in Cardinal Health Inc. (NYSE:CAH) by 54.8% during the second quarter, Holdings Channel reports. The institutional investor owned 10,681 shares of the company’s stock after selling 12,969 shares during the period. First Midwest Bank Trust Division’s holdings in Cardinal Health were worth $834,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new position in shares of Cardinal Health during the first quarter worth $107,000. Integrated Investment Consultants LLC boosted 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 in the last quarter. JFS Wealth Advisors LLC boosted 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 in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted 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 in the last quarter. Finally, Copper Rock Capital Partners LLC bought a new stake in Cardinal Health during the second quarter valued at approximately $205,000. 85.79% of the stock is currently owned by institutional investors.
Shares of Cardinal Health Inc. (NYSE:CAH) traded down 2.46% on Monday, reaching $75.79. 2,471,616 shares of the company were exchanged. Cardinal Health Inc. has a 12-month low of $73.25 and a 12-month high of $91.23. The company’s 50 day moving average is $79.20 and its 200 day moving average is $80.31. The firm has a market capitalization of $24.15 billion, a PE ratio of 17.54 and a beta of 0.64.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The business 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 business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $1.00 earnings per share. Analysts forecast that Cardinal Health Inc. will post $5.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be issued a $0.4489 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, September 29th. Cardinal Health’s payout ratio is 41.67%.
CAH has been the topic of several research reports. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Cardinal Health in a research report on Wednesday, July 6th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Cardinal Health in a research report on Tuesday, August 30th. Bank of America Corp. reaffirmed a “neutral” rating and issued a $83.00 price objective on shares of Cardinal Health in a research report on Tuesday, June 7th. Morgan Stanley reaffirmed a “hold” rating on shares of Cardinal Health in a research report on Wednesday, June 15th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Cardinal Health in a research report on Monday, June 20th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $94.76.
In other Cardinal Health news, SVP Stuart G. Laws sold 9,703 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $82.45, for a total value of $800,012.35. Following the transaction, the senior vice president now directly owns 2,718 shares of the company’s stock, valued at $224,099.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 in the company, valued at $42,781,425.12. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by company 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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