ProShare Advisors LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 5.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,182,924 shares of the company’s stock after selling 130,687 shares during the period. Cardinal Health comprises about 0.6% of ProShare Advisors LLC’s investment portfolio, making the stock its 28th biggest position. ProShare Advisors LLC’s holdings in Cardinal Health were worth $206,439,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in Cardinal Health by 2.1% in the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock worth $1,246,751,000 after acquiring an additional 457,777 shares in the last quarter. Invesco Ltd. grew its position in Cardinal Health by 9.0% in the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock worth $350,748,000 after acquiring an additional 511,826 shares in the last quarter. Geode Capital Management LLC grew its position in Cardinal Health by 0.5% in the first quarter. Geode Capital Management LLC now owns 5,396,988 shares of the company’s stock worth $406,560,000 after acquiring an additional 28,250 shares in the last quarter. Morgan Stanley boosted its position in Cardinal Health by 3.6% during the fourth quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock valued at $353,155,000 after buying an additional 161,667 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Cardinal Health by 75.4% during the second quarter. Acadian Asset Management LLC now owns 3,548,693 shares of the company’s stock valued at $335,559,000 after buying an additional 1,525,324 shares during the period. 86.01% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Cardinal Health
In other Cardinal Health news, CEO Deborah Weitzman sold 6,712 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $89.81, for a total transaction of $602,804.72. Following the completion of the transaction, the chief executive officer now owns 44,202 shares of the company’s stock, valued at $3,969,781.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.15% of the company’s stock.
Cardinal Health Price Performance
Cardinal Health (NYSE:CAH – Get Free Report) last released its quarterly earnings results on Friday, November 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.33. Cardinal Health had a net margin of 0.07% and a negative return on equity of 60.27%. The company had revenue of $54.76 billion during the quarter, compared to the consensus estimate of $54.85 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. Cardinal Health’s revenue was up 10.4% on a year-over-year basis. Research analysts expect that Cardinal Health, Inc. will post 6.9 earnings per share for the current year.
Cardinal Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, December 29th. Cardinal Health’s dividend payout ratio is 327.87%.
Analysts Set New Price Targets
Several research firms have issued reports on CAH. Morgan Stanley upped their price target on shares of Cardinal Health from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 16th. TD Cowen upped their price target on shares of Cardinal Health from $88.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $101.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday. TheStreet raised shares of Cardinal Health from a “c” rating to a “b-” rating in a research note on Tuesday. Finally, Robert W. Baird upped their price objective on shares of Cardinal Health from $107.00 to $108.00 and gave the company an “outperform” rating in a research note on Wednesday, August 16th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $96.83.
About Cardinal Health
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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