Hilltop Holdings Inc. Acquires Shares of 4,204 Cardinal Health Inc (CAH)
Hilltop Holdings Inc. acquired a new position in Cardinal Health Inc (NYSE:CAH) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 4,204 shares of the company’s stock, valued at approximately $205,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAH. Macquarie Group Ltd. lifted its stake in Cardinal Health by 19.7% in the second quarter. Macquarie Group Ltd. now owns 12,544,267 shares of the company’s stock worth $612,537,000 after purchasing an additional 2,067,829 shares during the last quarter. American Century Companies Inc. lifted its stake in Cardinal Health by 52.2% in the second quarter. American Century Companies Inc. now owns 4,461,439 shares of the company’s stock worth $217,852,000 after purchasing an additional 1,530,702 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Cardinal Health by 244.2% in the first quarter. Point72 Asset Management L.P. now owns 1,266,327 shares of the company’s stock worth $79,373,000 after purchasing an additional 898,427 shares during the last quarter. Brandes Investment Partners LP lifted its stake in Cardinal Health by 63.4% in the second quarter. Brandes Investment Partners LP now owns 1,968,288 shares of the company’s stock worth $96,112,000 after purchasing an additional 763,486 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Cardinal Health by 4.0% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,582,776 shares of the company’s stock worth $1,164,768,000 after purchasing an additional 706,543 shares during the last quarter. 87.89% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on CAH shares. Argus decreased their price objective on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, July 16th. Royal Bank of Canada reissued a “hold” rating and issued a $56.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 7th. Robert W. Baird reaffirmed a “hold” rating and set a $51.00 target price on shares of Cardinal Health in a research report on Friday, July 20th. Zacks Investment Research raised shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, Mizuho reaffirmed a “hold” rating and set a $53.00 target price on shares of Cardinal Health in a research report on Sunday, August 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $62.00.
Cardinal Health (NYSE:CAH) last issued its earnings results on Monday, August 6th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. The business had revenue of $35.35 billion for the quarter, compared to analyst estimates of $34.38 billion. Cardinal Health had a net margin of 0.19% and a return on equity of 22.59%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.31 earnings per share. sell-side analysts anticipate that Cardinal Health Inc will post 5.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be given a dividend of $0.4763 per share. The ex-dividend date of this dividend is Friday, September 28th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.66%. Cardinal Health’s dividend payout ratio (DPR) is 38.20%.
In related news, CEO Jon L. Giacomin sold 2,890 shares of Cardinal Health stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $51.95, for a total transaction of $150,135.50. Following the transaction, the chief executive officer now directly owns 72,652 shares of the company’s stock, valued at $3,774,271.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.97% of the company’s stock.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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