Truist Financial Corp lowered its position in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 13.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 109,452 shares of the company’s stock after selling 16,802 shares during the period. Truist Financial Corp’s holdings in Cardinal Health were worth $6,206,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of CAH. Allegheny Financial Group LTD acquired a new position in shares of Cardinal Health in the fourth quarter worth about $27,000. Cornerstone Advisory LLC acquired a new position in shares of Cardinal Health in the fourth quarter worth about $35,000. Trust Co. of Vermont acquired a new position in shares of Cardinal Health in the fourth quarter worth about $48,000. MBM Wealth Consultants LLC increased its stake in shares of Cardinal Health by 95.4% during the fourth quarter. MBM Wealth Consultants LLC now owns 1,014 shares of the company’s stock worth $52,000 after purchasing an additional 495 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its stake in shares of Cardinal Health by 23.3% during the first quarter. AdvisorNet Financial Inc now owns 1,028 shares of the company’s stock worth $58,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.
NYSE:CAH opened at $52.90 on Thursday. The company has a debt-to-equity ratio of 5.33, a current ratio of 1.08 and a quick ratio of 0.54. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 7.27 and a beta of 0.82. The company’s 50-day moving average is $54.31 and its two-hundred day moving average is $54.96. Cardinal Health, Inc. has a 1-year low of $45.85 and a 1-year high of $64.53.
Cardinal Health (NYSE:CAH – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.09). The firm had revenue of $44.84 billion during the quarter, compared to analyst estimates of $43.20 billion. Cardinal Health had a negative net margin of 0.54% and a positive return on equity of 155.24%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 5.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be issued a $0.4957 dividend. This represents a $1.98 annualized dividend and a yield of 3.75%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, June 30th. Cardinal Health’s payout ratio is presently 30.18%.
CAH has been the subject of a number of research reports. TheStreet cut shares of Cardinal Health from a “c+” rating to a “d+” rating in a research note on Thursday, May 5th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 6th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $68.00 in a research note on Wednesday, May 18th. Morgan Stanley cut their target price on shares of Cardinal Health from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Barclays cut shares of Cardinal Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $70.00 to $64.00 in a research note on Thursday, May 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.11.
About Cardinal Health (Get Rating)
Cardinal Health, Inc operates as an integrated 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.
Further Reading
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