Livingston Group Asset Management CO operating as Southport Capital Management reduced its stake in Cardinal Health Inc (NYSE:CAH) by 0.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 42,194 shares of the company’s stock after selling 386 shares during the quarter. Cardinal Health accounts for 0.9% of Livingston Group Asset Management CO operating as Southport Capital Management’s investment portfolio, making the stock its 28th largest position. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Cardinal Health were worth $2,032,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Gemmer Asset Management LLC lifted its holdings in shares of Cardinal Health by 172.4% in the 4th quarter. Gemmer Asset Management LLC now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 350 shares during the last quarter. WP Advisors LLC acquired a new position in shares of Cardinal Health in the 1st quarter worth approximately $26,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Cardinal Health in the 4th quarter worth approximately $32,000. CNB Bank acquired a new position in shares of Cardinal Health in the 4th quarter worth approximately $36,000. Finally, American Research & Management Co. acquired a new position in shares of Cardinal Health in the 1st quarter worth approximately $48,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. ValuEngine lowered shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. UBS Group assumed coverage on shares of Cardinal Health in a report on Thursday, January 17th. They set a “neutral” rating and a $51.00 target price on the stock. Finally, Wolfe Research assumed coverage on shares of Cardinal Health in a report on Tuesday, April 2nd. They set an “underperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Cardinal Health presently has a consensus rating of “Hold” and an average price target of $56.78.
Shares of CAH traded down $1.62 during midday trading on Wednesday, reaching $45.13. The stock had a trading volume of 68,752 shares, compared to its average volume of 2,828,489. Cardinal Health Inc has a 1-year low of $42.17 and a 1-year high of $66.45. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.50 and a beta of 1.15. The company has a current ratio of 1.05, a quick ratio of 0.51 and a debt-to-equity ratio of 1.26.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 7th. The company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.20. Cardinal Health had a negative net margin of 0.03% and a positive return on equity of 24.01%. The business had revenue of $37.70 billion for the quarter, compared to analyst estimates of $36.09 billion. During the same period last year, the business earned $1.31 EPS. The company’s revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Cardinal Health Inc will post 5.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.4763 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.22%. Cardinal Health’s payout ratio is 38.20%.
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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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