Verition Fund Management LLC cut its holdings in Cardinal Health Inc (NYSE:CAH) by 72.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,597 shares of the company’s stock after selling 73,979 shares during the period. Verition Fund Management LLC’s holdings in Cardinal Health were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of CAH. Signaturefd LLC bought a new position in shares of Cardinal Health in the 1st quarter worth about $100,000. Optimum Investment Advisors bought a new position in shares of Cardinal Health in the 1st quarter worth about $128,000. James Hambro & Partners bought a new position in shares of Cardinal Health in the 4th quarter worth about $138,000. Tower Research Capital LLC TRC raised its position in shares of Cardinal Health by 127.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,477 shares of the company’s stock worth $152,000 after acquiring an additional 1,388 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its position in shares of Cardinal Health by 96.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,507 shares of the company’s stock worth $154,000 after acquiring an additional 1,231 shares in the last quarter. 92.00% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the company. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 8th. Mizuho set a $61.00 price objective on Cardinal Health and gave the stock a “hold” rating in a research report on Monday, May 7th. TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a research report on Thursday, May 3rd. Leerink Swann set a $65.00 price objective on Cardinal Health and gave the stock a “buy” rating in a research report on Saturday, May 5th. Finally, Royal Bank of Canada set a $62.00 price objective on Cardinal Health and gave the stock a “hold” rating in a research report on Friday, May 4th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Cardinal Health has a consensus rating of “Hold” and an average price target of $69.79.
Shares of Cardinal Health opened at $54.75 on Friday, Marketbeat Ratings reports. Cardinal Health Inc has a one year low of $50.79 and a one year high of $80.37. The stock has a market capitalization of $16.97 billion, a P/E ratio of 10.14, a PEG ratio of 1.64 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.10 and a quick ratio of 0.54.
Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 3rd. The company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.12). Cardinal Health had a net margin of 1.26% and a return on equity of 23.39%. The firm had revenue of $33.63 billion during the quarter, compared to the consensus estimate of $33.61 billion. analysts expect that Cardinal Health Inc will post 4.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, July 15th. Investors of record on Monday, July 2nd will be given a $0.476 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.48%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, June 29th. Cardinal Health’s payout ratio is presently 34.26%.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company worldwide. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare, and consumer products to retailers, hospitals, and other healthcare providers.
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