Wedge Capital Management L L P NC trimmed its stake in shares of Cardinal Health Inc (NYSE:CAH) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 778,989 shares of the company’s stock after selling 8,746 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.26% of Cardinal Health worth $36,690,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. WP Advisors LLC acquired a new position in shares of Cardinal Health in the first quarter worth about $26,000. Bremer Bank National Association purchased a new stake in shares of Cardinal Health in the first quarter worth approximately $27,000. Financial Gravity Wealth Inc. lifted its position 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 purchasing an additional 499 shares in the last quarter. Trustcore Financial Services LLC lifted its position 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 purchasing an additional 350 shares in the last quarter. Finally, AGF Investments LLC purchased a new stake in shares of Cardinal Health in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.58% of the company’s stock.
A number of analysts have recently issued reports on CAH shares. Guggenheim started coverage on shares of Cardinal Health in a research report on Wednesday, April 17th. They issued a “neutral” rating and a $51.00 price target for the company. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $54.86.
CAH traded down $0.59 during midday trading on Wednesday, hitting $43.19. 668,506 shares of the company’s stock traded hands, compared to its average volume of 3,034,998. The stock has a market capitalization of $13.31 billion, a P/E ratio of 8.18, a PEG ratio of 1.47 and a beta of 1.28. The company’s fifty day moving average price is $46.00. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Cardinal Health Inc has a one year low of $41.03 and a one year high of $58.31.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.18. The firm 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 company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 earnings per share. On average, equities analysts forecast that Cardinal Health Inc will post 5.02 earnings per share for the current fiscal year.
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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