Skandinaviska Enskilda Banken AB publ Trims Stake in Cardinal Health, Inc. (CAH)
Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 67.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,252 shares of the company’s stock after selling 116,600 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cardinal Health were worth $3,697,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of CAH. Franklin Resources Inc. lifted its position in shares of Cardinal Health by 72.1% during the 2nd quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock valued at $489,613,000 after acquiring an additional 2,632,836 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Cardinal Health by 71.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,557,123 shares of the company’s stock valued at $277,191,000 after acquiring an additional 1,482,285 shares during the period. BlackRock Inc. lifted its position in shares of Cardinal Health by 6.5% during the 2nd quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock valued at $1,779,958,000 after acquiring an additional 1,398,496 shares during the period. American Century Companies Inc. lifted its position in shares of Cardinal Health by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 2,976,776 shares of the company’s stock valued at $199,206,000 after acquiring an additional 1,100,507 shares during the period. Finally, HealthCor Management L.P. acquired a new stake in shares of Cardinal Health during the 2nd quarter valued at approximately $84,496,000. Institutional investors own 88.47% of the company’s stock.
CAH has been the subject of a number of research reports. Morgan Stanley downgraded shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 20th. Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Cardinal Health in a research report on Thursday, October 12th. Finally, Royal Bank Of Canada initiated coverage on Cardinal Health in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $72.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $73.91.
Cardinal Health, Inc. (NYSE CAH) opened at $61.02 on Tuesday. The stock has a market capitalization of $19,230.00, a P/E ratio of 11.18, a P/E/G ratio of 1.70 and a beta of 0.85. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 1.06. Cardinal Health, Inc. has a 12-month low of $54.66 and a 12-month high of $84.88.
Cardinal Health (NYSE:CAH) last released its earnings results on Monday, November 6th. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.09. The firm had revenue of $32.64 billion during the quarter, compared to analysts’ expectations of $33.48 billion. Cardinal Health had a net margin of 0.84% and a return on equity of 25.24%. Cardinal Health’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS. analysts predict that Cardinal Health, Inc. will post 4.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be paid a $0.4624 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.85 annualized dividend and a yield of 3.03%. Cardinal Health’s payout ratio is currently 53.94%.
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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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