California Public Employees Retirement System trimmed its stake in Cardinal Health Inc (NYSE:CAH) by 5.2% in the 1st quarter, Holdings Channel reports. The firm owned 671,292 shares of the company’s stock after selling 36,869 shares during the period. California Public Employees Retirement System’s holdings in Cardinal Health were worth $32,323,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc lifted its stake in shares of Cardinal Health by 22.0% during the 3rd quarter. Vanguard Group Inc now owns 28,021,950 shares of the company’s stock worth $1,513,186,000 after acquiring an additional 5,058,369 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Cardinal Health by 8.9% during the 4th quarter. BlackRock Inc. now owns 26,135,772 shares of the company’s stock worth $1,165,655,000 after acquiring an additional 2,134,377 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cardinal Health by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 8,119,896 shares of the company’s stock worth $362,149,000 after acquiring an additional 290,620 shares during the last quarter. American International Group Inc. lifted its stake in shares of Cardinal Health by 6.2% during the 4th quarter. American International Group Inc. now owns 7,831,671 shares of the company’s stock worth $349,293,000 after acquiring an additional 460,358 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Cardinal Health by 15.9% during the 4th quarter. American Century Companies Inc. now owns 5,855,367 shares of the company’s stock worth $261,149,000 after acquiring an additional 804,399 shares during the last quarter. 87.67% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CAH opened at $46.18 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.07 and a quick ratio of 0.54. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 1.46 and a beta of 1.14. Cardinal Health Inc has a twelve month low of $42.17 and a twelve month high of $58.31.
Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 9th. The company reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.16. The firm had revenue of $35.23 billion for the quarter, compared to the consensus estimate of $35.09 billion. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. Research analysts expect that Cardinal Health Inc will post 5.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.4811 per share. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 dividend on an annualized basis and a yield of 4.17%. Cardinal Health’s payout ratio is 38.20%.
A number of equities research analysts recently issued reports on the company. ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 9th. Guggenheim assumed coverage on Cardinal Health in a research note on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price target for the company. Zacks Investment Research lowered Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Wolfe Research assumed coverage on Cardinal Health in a research note on Tuesday, April 2nd. They set an “underperform” rating for the company. Finally, UBS Group assumed coverage on Cardinal Health in a research note on Thursday, January 17th. They set a “neutral” rating and a $51.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $56.20.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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