Public Employees Retirement System of Ohio Sells 84,372 Shares of Cardinal Health, Inc. (CAH)

Public Employees Retirement System of Ohio lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 34.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 162,034 shares of the company’s stock after selling 84,372 shares during the period. Public Employees Retirement System of Ohio owned 0.05% of Cardinal Health worth $12,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Cardinal Health by 1.9% during the second quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock worth $1,842,205,000 after buying an additional 440,967 shares during the last quarter. BlackRock Inc. boosted its stake in Cardinal Health by 6.5% during the second quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock worth $1,779,958,000 after buying an additional 1,398,496 shares during the last quarter. State Street Corp boosted its stake in Cardinal Health by 1.1% during the first quarter. State Street Corp now owns 16,790,201 shares of the company’s stock worth $1,369,247,000 after buying an additional 176,331 shares during the last quarter. Franklin Resources Inc. boosted its stake in Cardinal Health by 72.1% during the second quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock worth $489,613,000 after buying an additional 2,632,836 shares during the last quarter. Finally, FMR LLC boosted its stake in Cardinal Health by 47.1% during the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock worth $482,391,000 after buying an additional 1,895,089 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors.

CAH has been the topic of a number of recent research reports. Royal Bank Of Canada initiated coverage on Cardinal Health in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $72.00 price objective on the stock. Jefferies Group LLC reissued a “hold” rating and set a $77.00 price objective on shares of Cardinal Health in a research note on Thursday, July 27th. UBS AG reissued a “neutral” rating and set a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. Evercore ISI reissued an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, July 4th. Finally, Credit Suisse Group lowered their price objective on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.54.

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Shares of Cardinal Health, Inc. (NYSE:CAH) traded up 0.61% during trading on Wednesday, hitting $65.48. The stock had a trading volume of 250,299 shares. The company has a market cap of $20.72 billion, a PE ratio of 16.25 and a beta of 0.86. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.88. The stock’s 50 day moving average is $67.26 and its 200-day moving average is $72.72.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that Cardinal Health, Inc. will post $4.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Sun

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Cardinal Health by 1.9% during the second quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock worth $1,842,205,000 after buying an additional 440,967 shares during the last quarter. BlackRock Inc. boosted its stake in Cardinal Health by 6.5% during the second quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock worth $1,779,958,000 after buying an additional 1,398,496 shares during the last quarter. State Street Corp boosted its stake in Cardinal Health by 1.1% during the first quarter. State Street Corp now owns 16,790,201 shares of the company’s stock worth $1,369,247,000 after buying an additional 176,331 shares during the last quarter. Franklin Resources Inc. boosted its stake in Cardinal Health by 72.1% during the second quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock worth $489,613,000 after buying an additional 2,632,836 shares during the last quarter. Finally, FMR LLC boosted its stake in Cardinal Health by 47.1% during the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock worth $482,391,000 after buying an additional 1,895,089 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors.

CAH has been the topic of a number of recent research reports. Royal Bank Of Canada initiated coverage on Cardinal Health in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $72.00 price objective on the stock. Jefferies Group LLC reissued a “hold” rating and set a $77.00 price objective on shares of Cardinal Health in a research note on Thursday, July 27th. UBS AG reissued a “neutral” rating and set a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. Evercore ISI reissued an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, July 4th. Finally, Credit Suisse Group lowered their price objective on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.54.

TRADEMARK VIOLATION WARNING: This piece was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/18/public-employees-retirement-system-of-ohio-sells-84372-shares-of-cardinal-health-inc-cah.html.

Shares of Cardinal Health, Inc. (NYSE:CAH) traded up 0.61% during trading on Wednesday, hitting $65.48. The stock had a trading volume of 250,299 shares. The company has a market cap of $20.72 billion, a PE ratio of 16.25 and a beta of 0.86. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.88. The stock’s 50 day moving average is $67.26 and its 200-day moving average is $72.72.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that Cardinal Health, Inc. will post $4.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd were issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is 45.79%.

Cardinal Health Profile

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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