Tompkins Financial Corp Sells 911 Shares of Cardinal Health Inc (NYSE:CAH)

Tompkins Financial Corp lowered its position in shares of Cardinal Health Inc (NYSE:CAH) by 24.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,772 shares of the company’s stock after selling 911 shares during the quarter. Tompkins Financial Corp’s holdings in Cardinal Health were worth $131,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC bought a new stake in Cardinal Health during the third quarter worth about $28,000. Advantage Investment Management LLC bought a new stake in Cardinal Health during the third quarter worth about $31,000. Financial Gravity Wealth Inc. lifted its stake in Cardinal Health by 258.5% during the second quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock worth $33,000 after purchasing an additional 499 shares during the last quarter. NuWave Investment Management LLC lifted its stake in Cardinal Health by 358.1% during the third quarter. NuWave Investment Management LLC now owns 765 shares of the company’s stock worth $35,000 after purchasing an additional 598 shares during the last quarter. Finally, SRS Capital Advisors Inc. bought a new stake in Cardinal Health during the second quarter worth about $36,000. 90.21% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE CAH traded up $0.26 during midday trading on Friday, reaching $51.47. The company had a trading volume of 125,821 shares, compared to its average volume of 2,450,536. Cardinal Health Inc has a one year low of $41.03 and a one year high of $58.31. The company has a quick ratio of 0.54, a current ratio of 1.07 and a debt-to-equity ratio of 1.20. The firm’s fifty day moving average price is $46.47 and its 200-day moving average price is $45.97. The stock has a market cap of $14.88 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 1.60 and a beta of 1.32.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The business had revenue of $37.35 billion during the quarter, compared to analyst estimates of $36.70 billion. During the same quarter in the prior year, the company posted $1.01 EPS. Cardinal Health’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts expect that Cardinal Health Inc will post 4.99 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.4811 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 3.74%. Cardinal Health’s payout ratio is currently 36.36%.

Several equities research analysts have issued reports on the company. ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Deutsche Bank started coverage on Cardinal Health in a research note on Thursday, September 12th. They issued a “hold” rating and a $50.00 target price for the company. Morgan Stanley lowered their target price on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, September 6th. Argus lowered Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Guggenheim set a $55.00 target price on Cardinal Health and gave the company a “buy” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Cardinal Health currently has a consensus rating of “Hold” and a consensus target price of $53.63.

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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