PVG Asset Management Corp Purchases New Position in Cardinal Health Inc (CAH)
PVG Asset Management Corp purchased a new position in shares of Cardinal Health Inc (NYSE:CAH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,130 shares of the company’s stock, valued at approximately $592,000.
Other institutional investors have also modified their holdings of the company. Cypress Capital Group purchased a new position in shares of Cardinal Health in the 2nd quarter worth $489,000. Qube Research & Technologies Ltd purchased a new position in shares of Cardinal Health in the 2nd quarter worth $165,000. Millennium Management LLC raised its position in shares of Cardinal Health by 10,011.2% in the 2nd quarter. Millennium Management LLC now owns 2,019,314 shares of the company’s stock worth $98,603,000 after buying an additional 1,999,343 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Cardinal Health by 9.1% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 28,862 shares of the company’s stock worth $1,409,000 after buying an additional 2,400 shares during the period. Finally, Sio Capital Management LLC purchased a new position in shares of Cardinal Health in the 2nd quarter worth $6,190,000. 87.86% of the stock is currently owned by institutional investors.
NYSE:CAH opened at $52.60 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.53 and a current ratio of 1.07. Cardinal Health Inc has a 12 month low of $48.14 and a 12 month high of $75.75. The stock has a market capitalization of $16.09 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.72 and a beta of 1.04.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be paid a dividend of $0.4763 per share. The ex-dividend date of this dividend is Friday, September 28th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 3.62%. Cardinal Health’s dividend payout ratio (DPR) is currently 38.20%.
CAH has been the topic of several research reports. Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Robert W. Baird reissued a “hold” rating and issued a $51.00 price objective on shares of Cardinal Health in a research report on Friday, July 20th. Morgan Stanley cut their price objective on Cardinal Health from $55.00 to $40.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 3rd. Royal Bank of Canada reissued a “hold” rating and issued a $56.00 price objective on shares of Cardinal Health in a research report on Tuesday, August 7th. Finally, Mizuho reissued a “hold” rating and issued a $53.00 price objective on shares of Cardinal Health in a research report on Sunday, August 12th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.00.
In other news, CEO Jon L. Giacomin sold 2,890 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $51.95, for a total transaction of $150,135.50. Following the completion of the sale, the chief executive officer now directly owns 72,652 shares in the company, valued at $3,774,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is owned by company insiders.
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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