Amica Mutual Insurance Co. Has $1,627,000 Position in Cardinal Health Inc. (CAH)
Amica Mutual Insurance Co. continued to hold its stake in shares of Cardinal Health Inc. (NYSE:CAH) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,940 shares of the company’s stock at the end of the third quarter. Amica Mutual Insurance Co.’s holdings in Cardinal Health were worth $1,627,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of CAH. Cohen & Steers Inc. raised its stake in shares of Cardinal Health by 36,541.4% in the second quarter. Cohen & Steers Inc. now owns 37,044,411 shares of the company’s stock valued at $980,195,000 after buying an additional 36,943,311 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Cardinal Health by 114.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 12,520,106 shares of the company’s stock valued at $976,694,000 after buying an additional 6,681,725 shares during the last quarter. Jarislowsky Fraser Ltd raised its stake in shares of Cardinal Health by 1,496.1% in the second quarter. Jarislowsky Fraser Ltd now owns 2,410,480 shares of the company’s stock valued at $199,925,000 after buying an additional 2,259,453 shares during the last quarter. LSV Asset Management raised its stake in shares of Cardinal Health by 89.5% in the second quarter. LSV Asset Management now owns 3,127,790 shares of the company’s stock valued at $243,998,000 after buying an additional 1,476,990 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Cardinal Health by 517.4% in the third quarter. Victory Capital Management Inc. now owns 1,723,529 shares of the company’s stock valued at $133,918,000 after buying an additional 1,444,376 shares during the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.
Cardinal Health Inc. (NYSE:CAH) traded up 0.03% during trading on Wednesday, hitting $71.01. The stock had a trading volume of 4,885,579 shares. The company has a 50-day moving average of $71.47 and a 200 day moving average of $77.46. The firm has a market cap of $22.73 billion, a P/E ratio of 17.19 and a beta of 0.73. Cardinal Health Inc. has a 52-week low of $62.70 and a 52-week high of $91.23.
Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, October 31st. The company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.03. Cardinal Health had a return on equity of 25.20% and a net margin of 1.08%. The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.12 billion. During the same period last year, the firm earned $1.38 EPS. Cardinal Health’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts predict that Cardinal Health Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Tuesday, January 3rd will be issued a $0.4489 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.53%. Cardinal Health’s dividend payout ratio is currently 43.58%.
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CAH has been the topic of a number of analyst reports. Credit Suisse Group AG reiterated a “buy” rating and set a $97.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 30th. Robert W. Baird lowered Cardinal Health from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $92.00 to $82.00 in a research note on Friday, October 28th. Cleveland Research lowered Cardinal Health from a “buy” rating to a “neutral” rating in a research note on Monday, October 10th. Bank of America Corp. reiterated a “hold” rating and set a $90.00 price objective on shares of Cardinal Health in a research note on Monday, September 19th. Finally, Deutsche Bank AG boosted their price objective on Cardinal Health from $83.00 to $89.00 and gave the company a “hold” rating in a research note on Thursday, August 4th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $91.62.
In related news, Chairman George S. Barrett sold 217,995 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $71.29, for a total value of $15,540,863.55. Following the transaction, the chairman now directly owns 682,226 shares of the company’s stock, valued at approximately $48,635,891.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.94% of the stock is owned by corporate insiders.
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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