Icon Advisers Inc. Co. lowered its position in Cardinal Health Inc. (NYSE:CAH) by 49.4% during the third quarter, Holdings Channel reports. The institutional investor owned 42,400 shares of the company’s stock after selling 41,400 shares during the period. Icon Advisers Inc. Co.’s holdings in Cardinal Health were worth $3,294,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC increased its position in Cardinal Health by 15.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,459 shares of the company’s stock worth $114,000 after buying an additional 195 shares in the last quarter. JFS Wealth Advisors LLC increased its position in Cardinal Health by 8,281.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,760 shares of the company’s stock worth $137,000 after buying an additional 1,739 shares in the last quarter. Quadrant Capital Group LLC increased its position in Cardinal Health by 2.4% in the third quarter. Quadrant Capital Group LLC now owns 1,906 shares of the company’s stock worth $142,000 after buying an additional 44 shares in the last quarter. Advisory Services Network LLC increased its position in Cardinal Health by 398.2% in the second quarter. Advisory Services Network LLC now owns 1,948 shares of the company’s stock worth $152,000 after buying an additional 1,557 shares in the last quarter. Finally, Alpha Windward LLC increased its position in Cardinal Health by 0.8% in the third quarter. Alpha Windward LLC now owns 2,133 shares of the company’s stock worth $166,000 after buying an additional 16 shares in the last quarter. 84.54% of the stock is currently owned by institutional investors.
Shares of Cardinal Health Inc. (NYSE:CAH) traded up 0.37% during trading on Monday, hitting $71.37. The company had a trading volume of 1,117,379 shares. The firm has a 50 day moving average of $71.88 and a 200 day moving average of $77.59. The stock has a market cap of $22.84 billion, a PE ratio of 17.28 and a beta of 0.73. 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 earnings per share for the quarter, beating the 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 analyst estimates of $31.12 billion. During the same period in the prior year, the company posted $1.38 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. On average, analysts forecast that Cardinal Health Inc. will post $5.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Tuesday, January 3rd will be issued a $0.4489 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, December 29th. Cardinal Health’s payout ratio is currently 43.58%.
A number of research firms have commented on CAH. Citigroup Inc. increased their target price on Cardinal Health from $87.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Leerink Swann reissued a “buy” rating on shares of Cardinal Health in a report on Wednesday, August 3rd. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Goldman Sachs Group Inc. downgraded Cardinal Health from a “buy” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $83.00 in a report on Friday, September 16th. Finally, Barclays PLC set a $88.00 price target on Cardinal Health and gave the stock a “buy” rating in a report on Monday, November 14th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $91.62.
In other news, Chairman George S. Barrett sold 217,995 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.94% of the stock is owned by 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.