First National Trust Co. decreased its position in shares of Cardinal Health Inc. (NYSE:CAH) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,678 shares of the company’s stock after selling 1,167 shares during the period. First National Trust Co.’s holdings in Cardinal Health were worth $287,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in Cardinal Health by 10.7% in the first quarter. IFP Advisors Inc now owns 3,415 shares of the company’s stock worth $280,000 after buying an additional 331 shares in the last quarter. BlackRock Fund Advisors raised its stake in Cardinal Health by 4.7% in the first quarter. BlackRock Fund Advisors now owns 4,547,765 shares of the company’s stock worth $372,689,000 after buying an additional 205,925 shares in the last quarter. Columbia Partners L L C Investment Management raised its stake in Cardinal Health by 1.2% in the first quarter. Columbia Partners L L C Investment Management now owns 12,474 shares of the company’s stock worth $1,022,000 after buying an additional 152 shares in the last quarter. Nikko Asset Management Americas Inc. purchased a new stake in Cardinal Health during the first quarter worth $384,000. Finally, JPMorgan Chase & Co. raised its stake in Cardinal Health by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 1,818,018 shares of the company’s stock worth $148,985,000 after buying an additional 15,770 shares in the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.
Cardinal Health Inc. (NYSE:CAH) traded down 0.40% during midday trading on Friday, hitting $76.40. 2,442,415 shares of the stock traded hands. The firm has a market cap of $24.34 billion, a PE ratio of 17.69 and a beta of 0.63. 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 price is $78.56 and its 200 day moving average price is $80.18.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The firm had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $31.06 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts predict that Cardinal Health Inc. will post $5.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be issued a $0.4489 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.80 annualized dividend and a yield of 2.35%. Cardinal Health’s dividend payout ratio (DPR) is presently 41.67%.
A number of analysts have weighed in on CAH shares. Royal Bank Of Canada restated a “buy” rating on shares of Cardinal Health in a research note on Monday, June 13th. Morgan Stanley reaffirmed a “hold” rating on shares of Cardinal Health in a report on Wednesday, June 15th. FBR & Co reaffirmed a “buy” rating on shares of Cardinal Health in a report on Monday, June 20th. Leerink Swann reaffirmed an “outperform” rating and set a $92.00 price target on shares of Cardinal Health in a report on Monday, June 20th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Cardinal Health in a report on Wednesday, July 6th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $94.76.
In related news, CEO George S. Barrett sold 20,428 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $83.75, for a total value of $1,710,845.00. Following the transaction, the chief executive officer now owns 510,762 shares in the company, valued at approximately $42,776,317.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Donald M. Jr. Casey sold 59,180 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $83.59, for a total transaction of $4,946,856.20. Following the completion of the transaction, the chief executive officer now owns 164,803 shares in the company, valued at approximately $13,775,882.77. The disclosure for this sale can be found here. 0.94% of the stock is currently 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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