Cardinal Health Inc (CAH) Shares Sold by Rockland Trust Co.
Rockland Trust Co. lessened its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,422 shares of the company’s stock after selling 1,673 shares during the quarter. Rockland Trust Co.’s holdings in Cardinal Health were worth $639,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. FDx Advisors Inc. raised its stake in Cardinal Health by 7.9% during the 3rd quarter. FDx Advisors Inc. now owns 43,508 shares of the company’s stock worth $2,912,000 after buying an additional 3,172 shares during the period. Private Advisor Group LLC raised its stake in Cardinal Health by 107.3% during the 2nd quarter. Private Advisor Group LLC now owns 5,965 shares of the company’s stock worth $457,000 after buying an additional 3,088 shares during the period. Cadence Capital Management LLC raised its stake in Cardinal Health by 8.4% during the 3rd quarter. Cadence Capital Management LLC now owns 65,205 shares of the company’s stock worth $4,364,000 after buying an additional 5,078 shares during the period. Commonwealth Equity Services Inc raised its stake in Cardinal Health by 7.4% during the 3rd quarter. Commonwealth Equity Services Inc now owns 72,959 shares of the company’s stock worth $4,882,000 after buying an additional 5,011 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in Cardinal Health by 4.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 824,347 shares of the company’s stock worth $55,165,000 after buying an additional 36,534 shares during the period. 88.35% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on CAH. Robert W. Baird reaffirmed a “hold” rating and set a $73.00 price objective on shares of Cardinal Health in a research note on Sunday, September 17th. Royal Bank of Canada began 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. Mizuho set a $70.00 price objective on Cardinal Health and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a research note on Thursday, October 12th. Finally, Cowen raised Cardinal Health to a “buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. Cardinal Health has a consensus rating of “Hold” and an average target price of $72.99.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.09. Cardinal Health had a return on equity of 6.84% and a net margin of 0.36%. The firm had revenue of $32.64 billion for the quarter, compared to the consensus estimate of $33.48 billion. During the same quarter last year, the business posted $1.24 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. equities research analysts forecast that Cardinal Health Inc will post 4.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be paid a $0.4624 dividend. This represents a $1.85 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, December 29th. Cardinal Health’s dividend payout ratio is 53.94%.
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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.
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