Gulf International Bank UK Ltd Sells 3,152 Shares of Cardinal Health, Inc. $CAH

Key Points

• Gulf International Bank UK Ltd reduced its stake in Cardinal Health, Inc. by 17.9%, selling 3,152 shares, and currently holds 14,506 shares valued at nearly $2 million.
• Several institutional investors have increased their positions in Cardinal Health, with notable growth from Townsquare Capital (up 31.2%) and Mariner LLC (up 5.4%) in the last quarter.
• Cardinal Health reported earnings of $2.08 per share, exceeding estimates, although its quarterly revenue of $60.16 billion fell short of analyst expectations.

Gulf International Bank UK Ltd cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 17.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,506 shares of the company's stock after selling 3,152 shares during the period. Gulf International Bank UK Ltd's holdings in Cardinal Health were worth $1,998,000 as of its most recent SEC filing.

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

Cardinal Health Trading Up 0.1%

NYSE CAH traded up $0.09 during trading on Monday, reaching $149.70. 2,050,920 shares of the company's stock were exchanged, compared to its average volume of 2,414,726. The firm has a market capitalization of $35.75 billion, a PE ratio of 23.21, a P/E/G ratio of 1.26 and a beta of 0.67. Cardinal Health, Inc. has a fifty-two week low of $106.54 and a fifty-two week high of $168.44. The company's fifty day simple moving average is $159.63 and its 200-day simple moving average is $144.72.

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

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's payout ratio is currently 31.63%.

Analyst Ratings Changes

Several brokerages have issued reports on CAH. Leerink Partners set a $186.00 price objective on shares of Cardinal Health and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Citigroup reaffirmed a "neutral" rating and set a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Jefferies Financial Group set a $150.00 price target on shares of Cardinal Health in a research note on Tuesday, August 12th. UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Finally, Wall Street Zen cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Cardinal Health presently has an average 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.