Teacher Retirement System of Texas Reduces Stake in Cardinal Health, Inc. (CAH)
Teacher Retirement System of Texas decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 787,813 shares of the company’s stock after selling 81 shares during the period. Teacher Retirement System of Texas’ holdings in Cardinal Health were worth $61,386,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CAH. Clark Estates Inc. NY boosted its stake in Cardinal Health by 11.4% in the second quarter. Clark Estates Inc. NY now owns 147,000 shares of the company’s stock worth $11,454,000 after buying an additional 15,000 shares during the last quarter. First Trust Advisors LP boosted its stake in Cardinal Health by 9.0% in the second quarter. First Trust Advisors LP now owns 534,280 shares of the company’s stock worth $41,631,000 after buying an additional 43,934 shares during the last quarter. Arizona State Retirement System boosted its stake in Cardinal Health by 0.3% in the second quarter. Arizona State Retirement System now owns 78,334 shares of the company’s stock worth $6,104,000 after buying an additional 200 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Cardinal Health by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,216,918 shares of the company’s stock worth $94,823,000 after buying an additional 56,974 shares during the last quarter. Finally, Forward Management LLC boosted its stake in Cardinal Health by 4.9% in the second quarter. Forward Management LLC now owns 18,998 shares of the company’s stock worth $1,481,000 after buying an additional 883 shares during the last quarter. 87.09% of the stock is owned by institutional investors and hedge funds.
Cardinal Health, Inc. (NYSE:CAH) opened at 67.31 on Friday. The company has a market capitalization of $21.27 billion, a PE ratio of 16.70 and a beta of 0.80. The stock’s 50 day moving average is $76.01 and its 200 day moving average is $76.91. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.88.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $32.97 billion during the quarter, compared to the consensus estimate of $32.73 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. Cardinal Health’s revenue was up 5.0% compared to the same quarter last year. Analysts predict that Cardinal Health, Inc. will post $4.97 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be issued a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 annualized dividend and a yield of 2.75%. Cardinal Health’s dividend payout ratio (DPR) is currently 45.79%.
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A number of research firms recently issued reports on CAH. UBS AG reissued a “neutral” rating and set a $76.00 target price (down from $79.00) on shares of Cardinal Health in a research note on Wednesday. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub cut Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Cowen and Company reissued a “market perform” rating and set a $77.00 target price (down from $82.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Finally, Credit Suisse Group lowered their target price on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price 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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