Qube Research & Technologies Ltd Invests $165,000 in Cardinal Health Inc (CAH) Stock
Qube Research & Technologies Ltd bought a new position in shares of Cardinal Health Inc (NYSE:CAH) during the second quarter, HoldingsChannel reports. The fund bought 3,369 shares of the company’s stock, valued at approximately $165,000.
A number of other institutional investors have also recently bought and sold shares of CAH. Signaturefd LLC purchased a new position in Cardinal Health in the 1st quarter worth approximately $100,000. Optimum Investment Advisors purchased a new position in Cardinal Health in the 1st quarter worth approximately $128,000. Sentry Investment Management LLC purchased a new position in Cardinal Health in the 2nd quarter worth approximately $132,000. Mount Yale Investment Advisors LLC purchased a new position in Cardinal Health in the 1st quarter worth approximately $136,000. Finally, Cerebellum GP LLC purchased a new position in Cardinal Health in the 2nd quarter worth approximately $172,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Jon L. Giacomin sold 2,890 shares of the company’s stock in a transaction on Monday, August 20th. The shares were 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 approximately $3,774,271.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.97% of the company’s stock.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Monday, August 6th. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. Cardinal Health had a net margin of 0.19% and a return on equity of 22.59%. The company had revenue of $35.35 billion during the quarter, compared to analyst estimates of $34.38 billion. During the same period in the prior year, the business posted $1.31 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. equities research analysts forecast that Cardinal Health Inc will post 5.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be issued a dividend of $0.4763 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Friday, September 28th. Cardinal Health’s dividend payout ratio is currently 38.20%.
A number of equities analysts have commented on CAH shares. Royal Bank of Canada reissued a “hold” rating and issued a $56.00 price target on shares of Cardinal Health in a research note on Tuesday, August 7th. Argus cut their price objective on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, July 16th. Morgan Stanley cut their price objective on shares of Cardinal Health from $55.00 to $40.00 and set an “underweight” rating for the company in a research note on Tuesday, July 3rd. Mizuho reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Cardinal Health in a research note on Sunday, August 12th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $51.00 price objective on shares of Cardinal Health in a research note on Friday, July 20th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $62.00.
Cardinal Health Company 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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