MAI Capital Management Sells 21,135 Shares of Cardinal Health, Inc. (CAH)
MAI Capital Management lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 24.0% during the first quarter, Holdings Channel reports. The firm owned 67,033 shares of the company’s stock after selling 21,135 shares during the period. MAI Capital Management’s holdings in Cardinal Health were worth $5,467,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Spark Investment Management LLC increased its stake in shares of Cardinal Health by 21.2% in the first quarter. Spark Investment Management LLC now owns 127,700 shares of the company’s stock worth $10,413,000 after buying an additional 22,300 shares during the period. Ariel Investments LLC increased its stake in shares of Cardinal Health by 1,944.5% in the first quarter. Ariel Investments LLC now owns 746,789 shares of the company’s stock worth $60,901,000 after buying an additional 710,263 shares during the period. Sivik Global Healthcare LLC purchased a new stake in shares of Cardinal Health during the first quarter worth approximately $2,854,000. Comerica Securities Inc. increased its stake in shares of Cardinal Health by 3.0% in the first quarter. Comerica Securities Inc. now owns 40,579 shares of the company’s stock worth $3,309,000 after buying an additional 1,190 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of Cardinal Health by 14.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 55,149 shares of the company’s stock worth $4,497,000 after buying an additional 6,819 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.
Cardinal Health, Inc. (NYSE:CAH) traded down 1.25% during midday trading on Friday, reaching $74.99. 2,494,111 shares of the company’s stock traded hands. The company’s 50-day moving average price is $73.56 and its 200 day moving average price is $76.20. The stock has a market capitalization of $23.69 billion, a price-to-earnings ratio of 17.90 and a beta of 0.80. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $85.52.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Monday, May 1st. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. The firm had revenue of $31.82 billion for the quarter, compared to the consensus estimate of $32.30 billion. During the same quarter in the prior year, the company posted $1.43 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Cardinal Health, Inc. will post $5.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Monday, July 3rd will be issued a $0.4624 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.47%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.45. Cardinal Health’s dividend payout ratio is currently 42.86%.
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A number of equities research analysts have recently commented on the stock. Vetr upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 price target for the company in a report on Tuesday. ValuEngine downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC assumed coverage on shares of Cardinal Health in a report on Wednesday, May 17th. They set a “hold” rating and a $77.00 price target for the company. Evercore ISI lifted their price target on shares of Cardinal Health from $77.50 to $78.00 and gave the stock an “outperform” rating in a report on Tuesday, May 2nd. Finally, Credit Suisse Group reiterated a “buy” rating and set a $81.00 price target on shares of Cardinal Health in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. Cardinal Health presently has an average rating of “Hold” and a consensus price target of $82.64.
In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $72.87, for a total value of $1,695,684.90. Following the transaction, the insider now owns 55,440 shares in the company, valued at $4,039,912.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.94% of the company’s stock.
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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