California State Teachers Retirement System lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 570,257 shares of the company’s stock after selling 35,068 shares during the quarter. California State Teachers Retirement System owned about 0.18% of Cardinal Health worth $38,162,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. lifted its position in Cardinal Health by 31.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock valued at $123,000 after buying an additional 382 shares during the period. Advisory Services Network LLC lifted its position in Cardinal Health by 18.4% during the second quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after buying an additional 270 shares during the period. Dupont Capital Management Corp purchased a new position in Cardinal Health during the second quarter valued at $164,000. First Personal Financial Services raised its position in shares of Cardinal Health by 127.5% in the 2nd quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock worth $172,000 after purchasing an additional 1,238 shares during the last quarter. Finally, Sun Life Financial INC raised its position in shares of Cardinal Health by 16,228.6% in the 2nd quarter. Sun Life Financial INC now owns 2,286 shares of the company’s stock worth $178,000 after purchasing an additional 2,272 shares during the last quarter. 88.47% of the stock is owned by institutional investors and hedge funds.
Cardinal Health, Inc. (NYSE:CAH) opened at $63.19 on Friday. Cardinal Health, Inc. has a 52-week low of $54.66 and a 52-week high of $84.88. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52. The firm has a market capitalization of $18,986.33, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85.
Cardinal Health (NYSE:CAH) last issued its earnings results on Monday, November 6th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.09. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The business had revenue of $32.64 billion during the quarter, compared to analyst estimates of $33.48 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. Cardinal Health’s revenue was up 1.9% on a year-over-year basis. equities analysts forecast that Cardinal Health, Inc. will post 4.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be given a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, December 29th. Cardinal Health’s dividend payout ratio (DPR) is 53.78%.
CAH has been the subject of several recent analyst reports. Jefferies Group set a $77.00 price target on Cardinal Health and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a research report on Sunday, September 10th. Robert W. Baird reaffirmed a “hold” rating and issued a $73.00 price target on shares of Cardinal Health in a research report on Sunday, September 17th. Royal Bank of Canada initiated coverage on Cardinal Health in a research report on Tuesday, September 19th. They issued a “sector perform” rating and a $72.00 price target for the company. Finally, Cowen raised Cardinal Health to a “buy” rating and set a $74.00 price target for the company in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Cardinal Health presently has a consensus rating of “Hold” and an average target price of $73.91.
About Cardinal Health
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.
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