Foyston Gordon & Payne Inc lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 65.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,053 shares of the company’s stock after selling 33,527 shares during the period. Foyston Gordon & Payne Inc’s holdings in Cardinal Health were worth $1,472,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CAH. Macquarie Group Ltd. boosted its stake in Cardinal Health by 10.0% in the fourth quarter. Macquarie Group Ltd. now owns 10,078,619 shares of the company’s stock valued at $725,359,000 after buying an additional 917,027 shares during the last quarter. FMR LLC boosted its stake in Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock valued at $482,391,000 after buying an additional 1,895,089 shares during the last quarter. Vulcan Value Partners LLC bought a new stake in Cardinal Health during the fourth quarter valued at about $311,826,000. Norges Bank bought a new stake in Cardinal Health during the fourth quarter valued at about $236,980,000. Finally, Franklin Resources Inc. boosted its stake in Cardinal Health by 576.6% in the fourth quarter. Franklin Resources Inc. now owns 2,127,069 shares of the company’s stock valued at $153,086,000 after buying an additional 1,812,674 shares during the last quarter. Hedge funds and other institutional investors own 87.64% of the company’s stock.
Cardinal Health, Inc. (NYSE:CAH) opened at 79.68 on Friday. The stock has a market capitalization of $25.17 billion, a price-to-earnings ratio of 19.02 and a beta of 0.80. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $85.52. The company has a 50 day moving average of $73.78 and a 200-day moving average of $76.35.
Cardinal Health (NYSE:CAH) last issued its earnings results on Monday, May 1st. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. The business had revenue of $31.82 billion during the quarter, compared to the consensus estimate of $32.30 billion. During the same period last year, the company earned $1.43 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Cardinal Health, Inc. will post $5.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Monday, July 3rd will be paid a $0.4624 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.45. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.32%. Cardinal Health’s dividend payout ratio (DPR) is 42.86%.
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Several equities research analysts have recently issued reports on CAH shares. Vetr cut shares of Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 price objective on the stock. in a research report on Thursday, June 1st. Cowen and Company reduced their price objective on shares of Cardinal Health from $89.00 to $82.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 25th. Evercore ISI lifted their price objective on shares of Cardinal Health from $77.50 to $78.00 and gave the company an “outperform” rating in a research report on Tuesday, May 2nd. ValuEngine cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Tigress Financial started coverage on shares of Cardinal Health in a research report on Friday, April 28th. They set a “neutral” rating on the stock. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $82.64.
In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $72.87, for a total value of $1,695,684.90. Following the completion of the sale, the insider now directly owns 55,440 shares of the company’s stock, valued at approximately $4,039,912.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.94% of the stock is owned by company insiders.
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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