Korea Investment CORP Has $6.11 Million Stake in Cardinal Health, Inc. (CAH)
Korea Investment CORP cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,369 shares of the company’s stock after selling 7,153 shares during the period. Korea Investment CORP’s holdings in Cardinal Health were worth $6,107,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Gulf International Bank UK Ltd increased its position in shares of Cardinal Health by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 98,741 shares of the company’s stock valued at $8,052,000 after buying an additional 1,300 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock valued at $156,000 after buying an additional 116 shares in the last quarter. National Pension Service increased its position in shares of Cardinal Health by 1.8% in the first quarter. National Pension Service now owns 260,907 shares of the company’s stock valued at $21,308,000 after buying an additional 4,712 shares in the last quarter. Legacy Private Trust Co. increased its position in shares of Cardinal Health by 20.2% in the first quarter. Legacy Private Trust Co. now owns 4,530 shares of the company’s stock valued at $369,000 after buying an additional 760 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Cardinal Health by 6.2% in the first quarter. Bank of Montreal Can now owns 609,732 shares of the company’s stock valued at $49,725,000 after buying an additional 35,436 shares in the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.
Shares of Cardinal Health, Inc. (CAH) opened at 67.31 on Friday. Cardinal Health, Inc. has a 52-week low of $62.70 and a 52-week high of $84.88. The company has a market cap of $21.27 billion, a P/E ratio of 16.70 and a beta of 0.80. The company has a 50-day moving average price of $76.01 and a 200-day moving average price of $76.91.
Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter last year, the business posted $1.14 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Cardinal Health, Inc. will post $4.97 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s payout ratio is presently 45.79%.
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CAH has been the subject of several analyst reports. William Blair downgraded Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. Leerink Swann set a $72.00 target price on Cardinal Health and gave the stock a “hold” rating in a research note on Friday, April 21st. Barclays PLC restated an “overweight” rating and issued a $82.00 target price (down previously from $88.00) on shares of Cardinal Health in a research note on Saturday, April 22nd. Cowen and Company cut their target price on Cardinal Health from $89.00 to $82.00 and set a “market perform” rating for the company in a research note on Tuesday, April 25th. Finally, Zacks Investment Research downgraded Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $80.46.
Cardinal Health Company 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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