Thrivent Financial For Lutherans decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 0.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 81,295 shares of the company’s stock after selling 660 shares during the period. Thrivent Financial For Lutherans’ holdings in Cardinal Health were worth $6,629,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Mission Wealth Management LLC boosted its stake in Cardinal Health by 20.7% in the first quarter. Mission Wealth Management LLC now owns 3,412 shares of the company’s stock valued at $278,000 after buying an additional 586 shares during the period. Legal & General Group Plc boosted its stake in Cardinal Health by 11.3% in the first quarter. Legal & General Group Plc now owns 1,936,012 shares of the company’s stock valued at $157,887,000 after buying an additional 196,647 shares during the period. WINTON GROUP Ltd boosted its stake in Cardinal Health by 184.8% in the first quarter. WINTON GROUP Ltd now owns 675,199 shares of the company’s stock valued at $52,463,000 after buying an additional 438,138 shares during the period. FDO Partners LLC acquired a new stake in Cardinal Health during the first quarter valued at about $997,000. Finally, Stephens Inc. AR boosted its stake in Cardinal Health by 10.0% in the first quarter. Stephens Inc. AR now owns 7,426 shares of the company’s stock valued at $606,000 after buying an additional 677 shares during the period. 87.64% of the stock is owned by institutional investors.
Shares of Cardinal Health, Inc. (NYSE CAH) opened at 79.68 on Monday. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $85.52. The firm has a market capitalization of $25.17 billion, a PE ratio of 19.02 and a beta of 0.80. The stock has a 50 day moving average price of $73.78 and a 200-day moving average price of $76.35.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Monday, May 1st. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The business had revenue of $31.82 billion during the quarter, compared to the consensus estimate of $32.30 billion. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post $5.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd will be issued a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, June 29th. Cardinal Health’s dividend payout ratio is presently 42.86%.
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Several research firms have issued reports on CAH. Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Vetr raised Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 target price for the company in a research note on Tuesday, June 13th. ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC began coverage on Cardinal Health in a research note on Wednesday, May 17th. They set a “hold” rating and a $77.00 target price for the company. Finally, Evercore ISI raised their target price on Cardinal Health from $77.50 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 2nd. Sixteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $82.64.
In other news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the completion of the sale, the insider now directly owns 55,440 shares in the company, valued at approximately $4,039,912.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.94% of the company’s stock.
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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