Cardinal Health, Inc. (CAH) Stake Maintained by Arrow Financial Corp
Arrow Financial Corp continued to hold its position in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, Holdings Channel reports. The fund owned 2,770 shares of the company’s stock at the end of the second quarter. Arrow Financial Corp’s holdings in Cardinal Health were worth $216,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in CAH. Vanguard Group Inc. raised its position in Cardinal Health by 3.8% in the first quarter. Vanguard Group Inc. now owns 23,201,310 shares of the company’s stock worth $1,892,067,000 after buying an additional 843,212 shares in the last quarter. BlackRock Inc. raised its position in Cardinal Health by 1,041.8% in the first quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock worth $1,748,835,000 after buying an additional 19,566,764 shares in the last quarter. State Street Corp raised its position in Cardinal Health by 1.1% in 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 in the last quarter. FMR LLC raised its position in Cardinal Health by 47.1% in 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in Cardinal Health by 5.8% in the first quarter. Geode Capital Management LLC now owns 2,861,518 shares of the company’s stock worth $232,999,000 after buying an additional 156,915 shares in the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cardinal Health, Inc. (NYSE:CAH) opened at 68.23 on Thursday. The firm has a market cap of $21.56 billion, a P/E ratio of 16.93 and a beta of 0.80. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month high of $84.88. The company has a 50-day moving average of $76.30 and a 200-day moving average of $76.98.
Cardinal Health (NYSE:CAH) last posted its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. Cardinal Health’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts forecast that Cardinal Health, Inc. will post $4.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be given a $0.4624 dividend. This represents a $1.85 annualized dividend and a yield of 2.71%. Cardinal Health’s dividend payout ratio (DPR) is 45.79%.
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A number of equities analysts recently issued reports on CAH shares. Vetr lowered Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 price target on the stock. in a report on Thursday, June 1st. Cowen and Company lowered their price target on Cardinal Health from $89.00 to $82.00 and set a “market perform” rating on the stock in a report on Tuesday, April 25th. Jefferies Group LLC reissued a “hold” rating and set a $77.00 price target on shares of Cardinal Health in a report on Thursday, July 27th. Evercore ISI raised their price target on Cardinal Health from $77.50 to $78.00 and gave the stock an “outperform” rating in a report on Tuesday, May 2nd. Finally, ValuEngine lowered Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. Cardinal Health currently has a consensus rating of “Hold” and a consensus target price of $80.46.
In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the completion of the transaction, the insider now owns 55,440 shares in the company, valued at approximately $4,039,912.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.94% of the stock is currently owned by corporate insiders.
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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