Cardinal Health, Inc. (NYSE:CAH) Shares Sold by FineMark National Bank & Trust
FineMark National Bank & Trust reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,621 shares of the company’s stock after selling 23 shares during the period. FineMark National Bank & Trust’s holdings in Cardinal Health were worth $282,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Teachers Advisors LLC increased its position in shares of Cardinal Health by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 653,880 shares of the company’s stock worth $47,060,000 after buying an additional 5,403 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of Cardinal Health by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 274,051 shares of the company’s stock worth $22,349,000 after buying an additional 4,174 shares during the period. Cardinal Capital Management Inc. purchased a new position in shares of Cardinal Health during the first quarter worth approximately $497,000. Denali Advisors LLC increased its position in shares of Cardinal Health by 50.4% in the first quarter. Denali Advisors LLC now owns 170,600 shares of the company’s stock worth $13,912,000 after buying an additional 57,200 shares during the period. Finally, Charter Trust Co. increased its position in shares of Cardinal Health by 107.4% in the first quarter. Charter Trust Co. now owns 6,330 shares of the company’s stock worth $516,000 after buying an additional 3,278 shares during the period. Hedge funds and other institutional investors own 87.09% of the company’s stock.
Shares of Cardinal Health, Inc. (NYSE:CAH) traded down 0.49% during trading on Friday, hitting $66.98. 1,750,306 shares of the stock traded hands. The stock has a 50-day moving average of $75.67 and a 200 day moving average of $76.86. The company has a market cap of $21.17 billion, a P/E ratio of 16.62 and a beta of 0.80. Cardinal Health, Inc. has a 1-year low of $62.70 and a 1-year high of $84.88.
Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The firm had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. On average, equities research analysts predict that Cardinal Health, Inc. will post $4.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.76%. Cardinal Health’s dividend payout ratio is presently 45.79%.
A number of brokerages have recently commented on CAH. UBS AG reissued a “neutral” rating and issued a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Credit Suisse Group reissued an “outperform” rating and issued a $87.00 price objective (up previously from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. William Blair downgraded shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. Barclays PLC reaffirmed an “overweight” rating and set a $82.00 target price (down previously from $88.00) on shares of Cardinal Health in a report on Saturday, April 22nd. Finally, BidaskClub downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.46.
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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