Kornitzer Capital Management Inc. KS held its position in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,775 shares of the company’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in Cardinal Health were worth $450,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in CAH. River Road Asset Management LLC raised its stake in shares of Cardinal Health by 28.9% in the first quarter. River Road Asset Management LLC now owns 885,861 shares of the company’s stock worth $72,242,000 after buying an additional 198,554 shares during the period. Sheets Smith Wealth Management raised its stake in shares of Cardinal Health by 0.8% in the second quarter. Sheets Smith Wealth Management now owns 36,800 shares of the company’s stock worth $2,867,000 after buying an additional 300 shares during the period. Bank of Montreal Can raised its stake in shares of Cardinal Health by 6.2% in the first quarter. Bank of Montreal Can now owns 609,732 shares of the company’s stock worth $49,725,000 after buying an additional 35,436 shares during the period. CWM LLC raised its stake in shares of Cardinal Health by 15.6% in the first quarter. CWM LLC now owns 331,531 shares of the company’s stock worth $27,036,000 after buying an additional 44,689 shares during the period. Finally, Morgan Stanley raised its stake in shares of Cardinal Health by 24.6% in the first quarter. Morgan Stanley now owns 2,035,339 shares of the company’s stock worth $165,981,000 after buying an additional 402,151 shares during the period. Institutional investors and hedge funds own 86.41% of the company’s stock.
Cardinal Health, Inc. (CAH) traded down 1.20% during midday trading on Friday, hitting $64.38. The stock had a trading volume of 1,428,285 shares. The firm has a market cap of $20.37 billion, a P/E ratio of 15.98 and a beta of 0.80. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.88. The stock has a 50-day moving average price of $73.76 and a 200 day moving average price of $76.57.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. On average, equities analysts anticipate that Cardinal Health, Inc. will post $4.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, September 29th. Cardinal Health’s payout ratio is 45.79%.
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A number of research analysts have recently issued reports on CAH shares. Vetr downgraded Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 price target on the stock. in a report on Thursday, June 1st. Cowen and Company cut their price target on Cardinal Health from $89.00 to $82.00 and set a “market perform” rating on the stock in a report on Tuesday, April 25th. Jefferies Group LLC restated a “hold” rating and set a $77.00 target price on shares of Cardinal Health in a research note on Thursday, July 27th. Evercore ISI boosted their target price on Cardinal Health from $77.50 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 2nd. Finally, ValuEngine downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Cardinal Health has an average rating of “Hold” and a consensus price target of $80.46.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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