Retirement Systems of Alabama lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 7.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 471,711 shares of the company's stock after selling 40,036 shares during the quarter. Retirement Systems of Alabama owned about 0.19% of Cardinal Health worth $52,134,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Paragon Capital Management Inc. boosted its stake in Cardinal Health by 0.7% in the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company's stock valued at $1,451,000 after purchasing an additional 99 shares during the period. Midland Wealth Advisors LLC lifted its stake in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company's stock worth $245,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company's stock valued at $204,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company's stock worth $2,054,000 after acquiring an additional 100 shares during the last quarter. Finally, Huntington National Bank grew its holdings in Cardinal Health by 0.9% during the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company's stock worth $1,193,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 87.17% of the company's stock.
Cardinal Health Price Performance
Shares of CAH traded up $0.64 during trading hours on Friday, hitting $118.10. The company's stock had a trading volume of 1,413,636 shares, compared to its average volume of 2,100,808. The business has a 50 day simple moving average of $117.12 and a two-hundred day simple moving average of $108.35. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.23. The company has a market cap of $28.58 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 1.47 and a beta of 0.61.
Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. Research analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.
Cardinal Health Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.71%. Cardinal Health's payout ratio is 39.30%.
Wall Street Analyst Weigh In
CAH has been the subject of several recent analyst reports. Mizuho started coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price objective for the company. UBS Group lifted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, November 4th. StockNews.com downgraded Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 3rd. Argus boosted their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley raised their target price on Cardinal Health from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus price target of $126.75.
Check Out Our Latest Analysis on CAH
Cardinal Health 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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