Cardinal Health Inc (CAH) Stake Lessened by Texas Permanent School Fund

Texas Permanent School Fund decreased its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 8.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,329 shares of the company’s stock after selling 6,487 shares during the period. Texas Permanent School Fund’s holdings in Cardinal Health were worth $3,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in CAH. Macquarie Group Ltd. lifted its position in shares of Cardinal Health by 19.7% during the 2nd quarter. Macquarie Group Ltd. now owns 12,544,267 shares of the company’s stock valued at $612,537,000 after buying an additional 2,067,829 shares in the last quarter. Millennium Management LLC lifted its position in shares of Cardinal Health by 10,011.2% during the 2nd quarter. Millennium Management LLC now owns 2,019,314 shares of the company’s stock valued at $98,603,000 after buying an additional 1,999,343 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Cardinal Health by 52.2% during the 2nd quarter. American Century Companies Inc. now owns 4,461,439 shares of the company’s stock valued at $217,852,000 after buying an additional 1,530,702 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Cardinal Health by 63.4% during the 2nd quarter. Brandes Investment Partners LP now owns 1,968,288 shares of the company’s stock valued at $96,112,000 after buying an additional 763,486 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV lifted its position in shares of Cardinal Health by 2,109.3% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 753,361 shares of the company’s stock valued at $15,888,000 after buying an additional 719,261 shares in the last quarter. Hedge funds and other institutional investors own 90.59% of the company’s stock.

Shares of CAH stock opened at $50.24 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.53 and a current ratio of 1.07. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 1.58 and a beta of 1.02. Cardinal Health Inc has a fifty-two week low of $48.14 and a fifty-two week high of $75.75.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Monday, August 6th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The company had revenue of $35.35 billion for the quarter, compared to analyst estimates of $34.38 billion. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. Sell-side analysts expect that Cardinal Health Inc will post 5.02 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were issued a $0.4763 dividend. The ex-dividend date was Friday, September 28th. This represents a $1.91 dividend on an annualized basis and a yield of 3.79%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio (DPR) is presently 38.20%.

CAH has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $60.00 target price on Cardinal Health and gave the company a “hold” rating in a research report on Friday, September 21st. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Argus decreased their target price on Cardinal Health from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, July 16th. Morgan Stanley decreased their target price on Cardinal Health from $55.00 to $40.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 3rd. Finally, Mizuho reiterated a “hold” rating and set a $53.00 target price on shares of Cardinal Health in a research report on Sunday, August 12th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.33.

In other Cardinal Health news, CEO Jon L. Giacomin sold 2,890 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $51.95, for a total value of $150,135.50. Following the transaction, the chief executive officer now owns 72,652 shares in the company, valued at approximately $3,774,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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