Cresset Asset Management LLC Sells 6,554 Shares of Cardinal Health, Inc. $CAH

Key Points

• Cresset Asset Management LLC reduced its stake in Cardinal Health by 14% during the first quarter, selling 6,554 shares and bringing its total holdings to 40,362 shares valued at approximately $5.56 million.
• Cardinal Health's quarterly earnings surpassed analysts' expectations, reporting $2.08 EPS against a consensus estimate of $2.03, although revenue fell short of projections at $60.16 billion.
• The company has announced a quarterly dividend of $0.5107 per share, equating to an annual yield of 1.4%, with a payout ratio of 31.63%.

Cresset Asset Management LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,362 shares of the company's stock after selling 6,554 shares during the quarter. Cresset Asset Management LLC's holdings in Cardinal Health were worth $5,561,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Cardinal Health by 5.3% in the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock worth $43,510,000 after purchasing an additional 15,956 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in shares of Cardinal Health by 17.2% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after acquiring an additional 457 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after acquiring an additional 2,694 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Cardinal Health by 569.5% during the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock valued at $54,000 after acquiring an additional 336 shares during the period. Finally, North Capital Inc. bought a new position in shares of Cardinal Health during the first quarter valued at $83,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 0.5%

Shares of CAH stock opened at $149.49 on Monday. The stock has a 50-day moving average price of $159.63 and a 200 day moving average price of $144.72. The firm has a market cap of $35.70 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.26 and a beta of 0.67. Cardinal Health, Inc. has a 12 month low of $106.54 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. The firm had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%. The company's revenue was up .5% on a year-over-year basis. During the same period last year, the company earned $1.84 earnings per share. Sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. Cardinal Health's payout ratio is 31.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group reissued a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Leerink Partners cut their price objective on Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $163.20.

Cardinal Health Company Profile

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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