First Manhattan Co. Holds Position in Cardinal Health, Inc. (CAH)
First Manhattan Co. continued to hold its stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the second quarter, Holdings Channel reports. The institutional investor owned 2,852 shares of the company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Cardinal Health were worth $222,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of 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. FMR LLC boosted its stake in shares of 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. Pzena Investment Management LLC purchased a new stake in shares of Cardinal Health during the first quarter worth about $86,386,000. Vanguard Group Inc. boosted its stake in shares of 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. Finally, Ariel Investments LLC boosted its stake in shares of Cardinal Health by 1,944.5% in the first quarter. Ariel Investments LLC now owns 746,789 shares of the company’s stock worth $60,901,000 after buying an additional 710,263 shares in the last quarter. Institutional investors own 87.09% of the company’s stock.
Cardinal Health, Inc. (CAH) opened at 67.31 on Friday. The firm’s 50-day moving average is $76.01 and its 200 day moving average is $76.91. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month high of $84.88. The firm has a market capitalization of $21.27 billion, a P/E ratio of 16.70 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $32.73 billion. During the same period last year, the firm earned $1.14 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts expect that Cardinal Health, Inc. will post $4.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be issued a $0.4624 dividend. This represents a $1.85 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, September 29th. Cardinal Health’s payout ratio is 45.79%.
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CAH has been the subject of a number of research analyst reports. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Credit Suisse Group restated a “buy” rating and set a $81.00 price objective on shares of Cardinal Health in a report on Tuesday, May 2nd. William Blair cut Cardinal Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. Tigress Financial initiated coverage on Cardinal Health in a report on Friday, April 28th. They set a “neutral” rating for the company. Finally, Jefferies Group LLC initiated coverage on Cardinal Health in a report on Wednesday, May 17th. They set a “hold” rating and a $77.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $80.46.
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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