Jupiter Asset Management Ltd. cut its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 38.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 187,923 shares of the company’s stock after selling 115,407 shares during the period. Jupiter Asset Management Ltd.’s holdings in Cardinal Health were worth $11,416,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Verdence Capital Advisors LLC increased its position in shares of Cardinal Health by 18.5% during the 1st quarter. Verdence Capital Advisors LLC now owns 23,464 shares of the company’s stock valued at $1,425,000 after purchasing an additional 3,670 shares during the last quarter. Alps Advisors Inc. boosted its holdings in Cardinal Health by 7.8% during the 1st quarter. Alps Advisors Inc. now owns 409,067 shares of the company’s stock valued at $24,851,000 after acquiring an additional 29,592 shares during the period. The PNC Financial Services Group Inc. boosted its holdings in Cardinal Health by 1.9% during the 1st quarter. The PNC Financial Services Group Inc. now owns 117,774 shares of the company’s stock valued at $7,156,000 after acquiring an additional 2,146 shares during the period. First Horizon Corp boosted its holdings in Cardinal Health by 8,640.6% during the 1st quarter. First Horizon Corp now owns 19,142 shares of the company’s stock valued at $1,162,000 after acquiring an additional 18,923 shares during the period. Finally, Sivik Global Healthcare LLC purchased a new stake in Cardinal Health during the 4th quarter valued at about $5,356,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.
Several equities research analysts recently weighed in on CAH shares. Morgan Stanley dropped their target price on Cardinal Health from $66.00 to $64.00 and set an “equal weight” rating for the company in a report on Wednesday, March 3rd. Robert W. Baird restated a “neutral” rating and set a $64.00 target price (down from $66.00) on shares of Cardinal Health in a report on Monday, May 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $60.50.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 6th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.02). Cardinal Health had a return on equity of 98.20% and a net margin of 0.74%. The business had revenue of $39.28 billion during the quarter, compared to analysts’ expectations of $40.14 billion. During the same quarter last year, the business posted $1.62 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Cardinal Health, Inc. will post 5.98 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Thursday, July 1st will be given a $0.4908 dividend. The ex-dividend date of this dividend is Wednesday, June 30th. This represents a $1.96 annualized dividend and a dividend yield of 3.27%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.49. Cardinal Health’s dividend payout ratio is currently 35.60%.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments, Pharmaceutical and Medical.
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