Cardinal Health Inc (NYSE:CAH) Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV cut its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 4.4% during the third quarter, HoldingsChannel.com reports. The firm owned 7,650 shares of the company’s stock after selling 350 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Cardinal Health were worth $361,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Cardinal Health by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 35,800,690 shares of the company’s stock valued at $1,686,212,000 after acquiring an additional 622,563 shares during the period. Macquarie Group Ltd. increased its position in shares of Cardinal Health by 5.3% in the 2nd quarter. Macquarie Group Ltd. now owns 14,736,537 shares of the company’s stock valued at $694,090,000 after acquiring an additional 742,724 shares during the period. Invesco Ltd. increased its position in shares of Cardinal Health by 28.5% in the 2nd quarter. Invesco Ltd. now owns 8,150,786 shares of the company’s stock valued at $383,901,000 after acquiring an additional 1,808,381 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Cardinal Health by 5.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,205,388 shares of the company’s stock valued at $198,074,000 after acquiring an additional 217,385 shares during the period. Finally, Pzena Investment Management LLC increased its position in shares of Cardinal Health by 20.5% in the 2nd quarter. Pzena Investment Management LLC now owns 3,644,698 shares of the company’s stock valued at $171,665,000 after acquiring an additional 621,135 shares during the period. 90.21% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on CAH. Morgan Stanley cut their target price on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, September 6th. Guggenheim set a $55.00 target price on Cardinal Health and gave the company a “buy” rating in a research report on Thursday, September 12th. ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Deutsche Bank began coverage on Cardinal Health in a research report on Thursday, September 12th. They issued a “hold” rating and a $50.00 target price on the stock. Finally, Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Three investment 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. The stock presently has an average rating of “Hold” and an average price target of $53.63.

Shares of CAH opened at $51.54 on Friday. The business’s 50-day moving average is $46.66 and its two-hundred day moving average is $45.98. The company has a market capitalization of $14.97 billion, a P/E ratio of 9.70, a P/E/G ratio of 1.72 and a beta of 1.32. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 1.07. Cardinal Health Inc has a fifty-two week low of $41.03 and a fifty-two week high of $58.31.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.18. The company had revenue of $37.35 billion for the quarter, compared to the consensus estimate of $36.70 billion. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. Analysts forecast 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. Shareholders of record on Tuesday, October 1st were given a dividend of $0.4811 per share. This represents a $1.92 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Monday, September 30th. Cardinal Health’s dividend payout ratio is currently 36.36%.

Cardinal Health 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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