Todays Report: Today, British Columbia Investment Management Corp Reached $11,125,000 position of Cardinal Health Inc. (CAH)

Today, British Columbia Investment Management Corp Reached $11,125,000 position  of Cardinal Health Inc. (CAH)

British Columbia Investment Management Corp lowered its stake in shares of Cardinal Health Inc. (NYSE:CAH) by 13.6% during the third quarter, Holdings Channel reports. The fund owned 143,181 shares of the company’s stock after selling 22,443 shares during the period. British Columbia Investment Management Corp’s holdings in Cardinal Health were worth $11,125,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Charlemagne Capital Ltd. increased its position in Cardinal Health by 0.4% in the second quarter. Charlemagne Capital Ltd. now owns 2,527 shares of the company’s stock valued at $196,000 after buying an additional 10 shares during the last quarter. Bridgewater Wealth & Financial Management LLC increased its position in Cardinal Health by 0.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 6,561 shares of the company’s stock valued at $512,000 after buying an additional 19 shares during the last quarter. Conning Inc. increased its position in Cardinal Health by 0.3% in the second quarter. Conning Inc. now owns 7,980 shares of the company’s stock valued at $623,000 after buying an additional 20 shares during the last quarter. Synovus Financial Corp increased its position in Cardinal Health by 0.5% in the second quarter. Synovus Financial Corp now owns 4,385 shares of the company’s stock valued at $346,000 after buying an additional 20 shares during the last quarter. Finally, First Financial Bank N.A. Trust Division increased its position in Cardinal Health by 0.6% in the second quarter. First Financial Bank N.A. Trust Division now owns 4,124 shares of the company’s stock valued at $322,000 after buying an additional 25 shares during the last quarter. 88.39% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Inc. (NYSE:CAH) traded up 0.79% on Friday, hitting $71.11. 1,035,562 shares of the stock traded hands. The stock has a market cap of $22.76 billion, a price-to-earnings ratio of 17.21 and a beta of 0.73. The firm’s 50-day moving average price is $71.88 and its 200-day moving average price is $77.59. Cardinal Health Inc. has a 12-month low of $62.70 and a 12-month high of $91.23.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Monday, October 31st. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.21 by $0.03. Cardinal Health had a net margin of 1.08% and a return on equity of 25.20%. The business had revenue of $32 billion for the quarter, compared to analyst estimates of $31.12 billion. During the same period in the previous year, the firm earned $1.38 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts anticipate that Cardinal Health Inc. will post $5.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Tuesday, January 3rd will be issued a $0.4489 dividend. The ex-dividend date 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 (DPR) is 43.58%.

Several equities analysts have issued reports on the stock. Deutsche Bank AG increased their price objective on shares of Cardinal Health from $83.00 to $89.00 and gave the company a “hold” rating in a report on Thursday, August 4th. Leerink Swann reiterated an “outperform” rating and issued a $80.00 target price (down from $95.00) on shares of Cardinal Health in a research report on Wednesday, November 2nd. Barclays PLC set a $88.00 target price on shares of Cardinal Health and gave the company a “buy” rating in a research report on Monday, November 14th. Citigroup Inc. increased their target price on shares of Cardinal Health from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Cardinal Health presently has an average rating of “Buy” and a consensus target price of $91.62.

In other Cardinal Health news, Chairman George S. Barrett sold 217,995 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were 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 in the company, valued at approximately $48,635,891.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.94% of the stock is currently owned by company insiders.

About Cardinal Health

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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