CCM Investment Advisers LLC Has $254,000 Holdings in Cardinal Health, Inc. (CAH)
CCM Investment Advisers LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 53.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,800 shares of the company’s stock after selling 4,450 shares during the quarter. CCM Investment Advisers LLC’s holdings in Cardinal Health were worth $254,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Cullen Frost Bankers Inc. grew its holdings in Cardinal Health by 58.8% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 87,472 shares of the company’s stock valued at $5,854,000 after buying an additional 32,387 shares in the last quarter. American Century Companies Inc. grew its holdings in Cardinal Health by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 2,976,776 shares of the company’s stock valued at $199,206,000 after buying an additional 1,100,507 shares in the last quarter. Parnassus Investments CA grew its holdings in Cardinal Health by 19.1% in the 3rd quarter. Parnassus Investments CA now owns 1,400,000 shares of the company’s stock valued at $93,688,000 after buying an additional 225,000 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in Cardinal Health by 3.5% in the 3rd quarter. State of Wisconsin Investment Board now owns 513,011 shares of the company’s stock valued at $34,331,000 after buying an additional 17,404 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in Cardinal Health by 1.8% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 52,114 shares of the company’s stock valued at $3,487,000 after buying an additional 900 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.
Shares of Cardinal Health, Inc. (NYSE:CAH) traded down $1.13 during midday trading on Tuesday, reaching $60.25. The company’s stock had a trading volume of 4,783,076 shares, compared to its average volume of 3,070,000. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. Cardinal Health, Inc. has a 12 month low of $57.54 and a 12 month high of $84.88. The stock has a market cap of $19,170.00, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88.
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 Zacks’ consensus estimate of $1.00 by $0.09. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company had revenue of $32.64 billion during the quarter, compared to analysts’ expectations of $33.48 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. analysts anticipate that Cardinal Health, Inc. will post 4.95 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is 53.94%.
Several brokerages have recently commented on CAH. BidaskClub lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Cowen and Company raised Cardinal Health to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a research note on Sunday, September 10th. Jefferies Group LLC set a $77.00 price target on Cardinal Health and gave the company a “hold” rating in a research note on Tuesday, August 29th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $73.00 price target on shares of Cardinal Health in a research note on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. Cardinal Health currently has a consensus rating of “Hold” and an average price target of $75.72.
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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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