Washington Trust Bank maintained its position in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,442 shares of the company’s stock at the end of the second quarter. Washington Trust Bank’s holdings in Cardinal Health were worth $112,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC acquired a new position in Cardinal Health during the first quarter valued at approximately $120,000. Quadrant Capital Group LLC boosted its position in shares of Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock valued at $156,000 after buying an additional 116 shares in the last quarter. Alpha Windward LLC boosted its position in shares of Cardinal Health by 1.8% in the first quarter. Alpha Windward LLC now owns 2,282 shares of the company’s stock valued at $186,000 after buying an additional 41 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock valued at $202,000 after buying an additional 256 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in shares of Cardinal Health by 18.5% in the first quarter. First Mercantile Trust Co. now owns 2,539 shares of the company’s stock valued at $207,000 after buying an additional 397 shares in the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cardinal Health, Inc. (CAH) traded down 0.49% during trading on Friday, reaching $66.98. The company’s stock had a trading volume of 1,750,306 shares. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88. The company has a 50-day moving average price of $75.67 and a 200-day moving average price of $76.86. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 16.62 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last posted its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion for the quarter, compared to the consensus estimate of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, equities research analysts forecast that Cardinal Health, Inc. will post $4.97 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be issued a $0.4624 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.76%. Cardinal Health’s dividend payout ratio is presently 45.79%.
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Several research analysts have recently issued reports on CAH shares. Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Credit Suisse Group restated a “buy” rating and issued a $81.00 target price on shares of Cardinal Health in a report on Tuesday, May 2nd. William Blair cut shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. Tigress Financial began coverage on shares of Cardinal Health in a report on Friday, April 28th. They issued a “neutral” rating on the stock. Finally, Jefferies Group LLC began coverage on shares of Cardinal Health in a report on Wednesday, May 17th. They issued a “hold” rating and a $77.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Cardinal Health currently has an average rating of “Hold” and a consensus price target 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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