Burney Co. cut its holdings in Cardinal Health Inc (NYSE:CAH) by 6.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,999 shares of the company’s stock after selling 2,334 shares during the quarter. Burney Co.’s holdings in Cardinal Health were worth $1,541,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAH. WP Advisors LLC purchased a new stake in shares of Cardinal Health during the first quarter valued at $26,000. Bremer Bank National Association purchased a new stake in shares of Cardinal Health during the first quarter valued at $27,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Cardinal Health during the fourth quarter valued at $32,000. CNB Bank purchased a new stake in shares of Cardinal Health during the fourth quarter valued at $36,000. Finally, Farmers National Bank purchased a new stake in shares of Cardinal Health during the first quarter valued at $43,000. 88.54% of the stock is owned by institutional investors.
Several research firms recently weighed in on CAH. ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Thursday, May 9th. Guggenheim began coverage on Cardinal Health in a report on Wednesday, April 17th. They issued a “neutral” rating and a $51.00 price objective for the company. Zacks Investment Research downgraded Cardinal Health from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, Wolfe Research began coverage on Cardinal Health in a report on Tuesday, April 2nd. They issued an “underperform” rating for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and a consensus price target of $56.20.
CAH stock opened at $44.22 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.07 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $13.31 billion, a P/E ratio of 8.62, a PEG ratio of 1.41 and a beta of 1.20. Cardinal Health Inc has a 1-year low of $42.01 and a 1-year high of $58.31.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, May 9th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.16. The firm had revenue of $35.23 billion during the quarter, compared to the consensus estimate of $35.09 billion. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. On average, sell-side analysts anticipate that Cardinal Health Inc will post 5.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.4811 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 dividend on an annualized basis and a yield of 4.35%. Cardinal Health’s payout ratio is currently 38.20%.
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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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