Treasurer of the State of North Carolina lowered its holdings in Cardinal Health Inc (NYSE:CAH) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,432 shares of the company’s stock after selling 270 shares during the quarter. Treasurer of the State of North Carolina owned 0.05% of Cardinal Health worth $7,132,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Financial Gravity Wealth Inc. increased its stake in shares of Cardinal Health by 258.5% in the second quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock worth $33,000 after acquiring an additional 499 shares during the period. SRS Capital Advisors Inc. acquired a new stake in shares of Cardinal Health in the second quarter worth $36,000. Trustcore Financial Services LLC increased its stake in shares of Cardinal Health by 80.6% in the second quarter. Trustcore Financial Services LLC now owns 784 shares of the company’s stock worth $37,000 after acquiring an additional 350 shares during the period. AGF Investments LLC acquired a new stake in shares of Cardinal Health in the second quarter worth $38,000. Finally, WealthStone Inc. acquired a new stake in shares of Cardinal Health in the second quarter worth $38,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.
CAH has been the topic of a number of research reports. ValuEngine upgraded shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Guggenheim set a $55.00 price objective on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Thursday, September 12th. Deutsche Bank started coverage on shares of Cardinal Health in a research note on Thursday, September 12th. They issued a “hold” rating and a $50.00 price objective on the stock. Morgan Stanley dropped their price target on shares of Cardinal Health from $50.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, September 6th. Finally, Argus lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $53.63.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.18. The company had revenue of $37.35 billion for the quarter, compared to analyst estimates of $36.70 billion. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $1.01 earnings per share. Research analysts predict that Cardinal Health Inc will post 4.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.4811 per share. The ex-dividend date is Monday, September 30th. This represents a $1.92 annualized dividend and a yield of 4.18%. Cardinal Health’s dividend payout ratio is presently 36.36%.
Cardinal Health Profile
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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