Cardinal Health, Inc. (NYSE:CAH) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its holdings in Cardinal Health by 2.9%, now owning 347,350 shares valued at approximately $47.85 million as of the latest SEC filing.
• Cardinal Health reported an EPS of $2.35 for the last quarter, exceeding analysts' estimates, with a revenue of $54.88 billion which slightly missed expectations.
• The company has announced an increase in its quarterly dividend to $0.5107 per share, representing a dividend yield of 1.31% and a payout ratio of 31.83%.

TD Asset Management Inc lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,350 shares of the company's stock after selling 10,319 shares during the period. TD Asset Management Inc owned about 0.15% of Cardinal Health worth $47,854,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Cardinal Health by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock valued at $691,145,000 after acquiring an additional 109,273 shares in the last quarter. Invesco Ltd. increased its position in shares of Cardinal Health by 4.6% during the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares in the last quarter. Marshall Wace LLP increased its position in shares of Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after purchasing an additional 1,913,892 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Cardinal Health by 16.2% during the fourth quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock valued at $359,286,000 after buying an additional 422,755 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Cardinal Health by 4.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock valued at $274,599,000 after buying an additional 94,768 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of NYSE:CAH traded up $0.96 during mid-day trading on Friday, reaching $156.18. 742,326 shares of the company were exchanged, compared to its average volume of 2,373,286. Cardinal Health, Inc. has a 1 year low of $96.05 and a 1 year high of $168.44. The firm has a market cap of $37.28 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.57 and a beta of 0.68. The firm's 50-day simple moving average is $159.67 and its 200 day simple moving average is $142.48.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. The company had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The firm's revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.5107 per share. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. Cardinal Health's dividend payout ratio is presently 31.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. UBS Group increased their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Citigroup reaffirmed a "neutral" rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Robert W. Baird increased their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Bank of America increased their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $158.07.

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.