Keybank National Association OH reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,246 shares of the company’s stock after selling 1,172 shares during the quarter. Keybank National Association OH’s holdings in Cardinal Health were worth $753,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Prudential Financial Inc. raised its stake in Cardinal Health by 1.4% during the 3rd quarter. Prudential Financial Inc. now owns 466,194 shares of the company’s stock valued at $31,198,000 after purchasing an additional 6,220 shares during the period. Cullen Frost Bankers Inc. raised its stake in Cardinal Health by 58.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 87,472 shares of the company’s stock valued at $5,854,000 after purchasing an additional 32,387 shares during the period. American Century Companies Inc. raised its stake in 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 purchasing an additional 1,100,507 shares during the period. Parnassus Investments CA raised its stake in Cardinal Health by 19.1% during the 3rd quarter. Parnassus Investments CA now owns 1,400,000 shares of the company’s stock valued at $93,688,000 after purchasing an additional 225,000 shares during the period. Finally, State of Wisconsin Investment Board grew its holdings in shares of Cardinal Health by 3.5% during the 3rd quarter. State of Wisconsin Investment Board now owns 513,011 shares of the company’s stock valued at $34,331,000 after acquiring an additional 17,404 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Argus cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Jefferies Group LLC decreased their price objective on shares of Cardinal Health from $77.00 to $67.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Finally, Credit Suisse Group decreased their price target on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.81.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, November 6th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.09. Cardinal Health had a net margin of 0.84% and a return on equity of 25.24%. The business had revenue of $32.64 billion for the quarter, compared to analysts’ expectations of $33.48 billion. During the same period in the prior year, the firm earned $1.24 earnings per share. Cardinal Health’s revenue was up 1.9% compared to the same quarter last year. analysts anticipate 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 Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.85 annualized dividend and a dividend yield of 3.25%. Cardinal Health’s dividend payout ratio (DPR) is currently 53.78%.
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Cardinal Health 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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