AQR Capital Management LLC lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,462,830 shares of the company's stock after selling 123,750 shares during the quarter. Cardinal Health comprises 0.5% of AQR Capital Management LLC's portfolio, making the stock its 20th biggest holding. AQR Capital Management LLC owned 1.42% of Cardinal Health worth $340,465,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in Cardinal Health by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company's stock valued at $403,022,000 after buying an additional 370,181 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company's stock worth $416,585,000 after buying an additional 598,002 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Cardinal Health by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company's stock worth $305,584,000 after buying an additional 14,030 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Cardinal Health by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company's stock valued at $172,974,000 after buying an additional 85,247 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Cardinal Health by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company's stock valued at $165,517,000 after acquiring an additional 111,137 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.
Cardinal Health Trading Up 0.4 %
Shares of NYSE CAH traded up $0.41 during trading hours on Thursday, reaching $109.23. The stock had a trading volume of 2,200,621 shares, compared to its average volume of 2,118,024. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05. The firm has a market cap of $26.60 billion, a price-to-earnings ratio of 48.55, a P/E/G ratio of 1.33 and a beta of 0.60. The business's fifty day moving average price is $106.53 and its two-hundred day moving average price is $103.99.
Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business's revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.55 EPS. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.62 earnings per share for the current fiscal year.
Cardinal Health Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.506 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is presently 89.78%.
Insider Activity
In related news, insider Jessica L. Mayer sold 17,896 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares of the company's stock, valued at $10,065,447.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Michelle D. Greene sold 4,000 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the sale, the insider now directly owns 19,242 shares in the company, valued at approximately $2,094,491.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares of the company's stock, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.15% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Evercore ISI upped their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an "in-line" rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $115.00 to $119.00 and gave the company a "hold" rating in a report on Friday, August 16th. Argus lifted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a "neutral" rating in a research note on Wednesday, August 21st. Finally, Morgan Stanley raised their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an "overweight" rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.36.
Read Our Latest Analysis on CAH
Cardinal Health Company Profile
(
Free Report)
Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.
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