HighTower Advisors LLC lessened its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 55.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,078 shares of the company’s stock after selling 67,120 shares during the period. HighTower Advisors LLC’s holdings in Cardinal Health were worth $2,542,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CAH. Amundi Pioneer Asset Management Inc. grew its position in shares of Cardinal Health by 19.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 317,924 shares of the company’s stock valued at $15,307,000 after buying an additional 52,482 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Cardinal Health by 3.4% during the 4th quarter. Victory Capital Management Inc. now owns 931,810 shares of the company’s stock valued at $47,131,000 after buying an additional 30,436 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $400,000. Duality Advisers LP grew its position in shares of Cardinal Health by 59.9% during the 4th quarter. Duality Advisers LP now owns 18,354 shares of the company’s stock valued at $928,000 after buying an additional 6,874 shares during the last quarter. Finally, Fieldpoint Private Securities LLC grew its position in shares of Cardinal Health by 80.3% during the 4th quarter. Fieldpoint Private Securities LLC now owns 660 shares of the company’s stock valued at $33,000 after buying an additional 294 shares during the last quarter. 84.30% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on CAH. Bank of America raised shares of Cardinal Health to a “buy” rating in a research report on Friday, May 15th. UBS Group raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the company from $48.00 to $64.00 in a research note on Friday, May 15th. Credit Suisse Group lowered shares of Cardinal Health to a “hold” rating and set a $53.00 target price for the company. in a research note on Wednesday, April 22nd. Mizuho boosted their target price on shares of Cardinal Health from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Finally, Zacks Investment Research lowered shares of Cardinal Health from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research note on Tuesday, May 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.82.
Shares of NYSE:CAH opened at $50.55 on Monday. The company has a 50 day moving average of $53.17 and a 200-day moving average of $51.92. The firm has a market cap of $14.76 billion, a P/E ratio of -3.60, a P/E/G ratio of 2.19 and a beta of 0.99. Cardinal Health Inc has a twelve month low of $39.05 and a twelve month high of $60.69. The company has a current ratio of 1.05, a quick ratio of 0.53 and a debt-to-equity ratio of 5.60.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Monday, May 11th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.19. The company had revenue of $39.16 billion during the quarter, compared to analyst estimates of $37.04 billion. Cardinal Health had a negative net margin of 2.71% and a positive return on equity of 69.23%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.59 EPS. Equities research analysts forecast that Cardinal Health Inc will post 5.3 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.486 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, June 30th. Cardinal Health’s dividend payout ratio is currently 36.36%.
About Cardinal Health
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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