Economy

Inc. Sells 2695 Shares of Cardinal Health, Inc. (NYSE:CAH)

(NYSE:CAH) by 13.5% during the third quarter, Holdings Channel reports.

Heading into the earnings release, covering sell-side analysts have a consensus target price of $72.44 on Cardinal Health, Inc. shares. Donald L. Hagan LLC lifted its position in shares of Cardinal Health by 31.2% during the third quarter.

Shares of the company fell 4 percent on Monday morning to their lowest in four years. Engineers Gate Manager LP boosted its stake in Cardinal Health by 165.6% in the second quarter. Boston Advisors LLC now owns 148,566 shares of the company's stock valued at $9,942,000 after acquiring an additional 6,866 shares during the period. Inc. lowered its stake in Cardinal Health, Inc. BlackRock Inc. now owns 22,843,418 shares of the company's stock valued at $1,779,958,000 after purchasing an additional 1,398,496 shares in the last quarter. Royal Bank of Canada boosted its stake in Cardinal Health by 2.8% in the first quarter. Donald L. Hagan LLC now owns 18,185 shares of the company's stock worth $1,217,000 after purchasing an additional 4,323 shares in the last quarter. First Finance Bank holds 0.05% in Cardinal Health Inc (NYSE:CAH) or 3,695 shares. The stock decreased 1.42% or $0.69 on November 3, reaching $47.98.

Cardinal expects full-year earnings in the range of $4.85 to $5.10 per share. Cardinal Health Inc (NYSE:CAH) has declined 4.95% since November 5, 2016 and is downtrending. 2,653,027 shares of the stock traded hands. Cardinal Health Inc. has a 12 month low of $62.70 and a 12 month high of $91.23.

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Gyroscope Capital Management Group Llc increased its stake in Cardinal Health Inc (CAH) by 11% based on its latest 2017Q2 regulatory filing with the SEC. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.00 by $0.09. Cardinal Health had a net margin of 1.08% and a return on equity of 25.20%.

Sell-side analysts have also provided a consensus recommendation of 2.80 on company shares.

Last week, Cardinal's peer AmerisourceBergen Corp said it did not expect generic drug prices to slip further next year, although it added it expects prices to dip 7 to 9 percent in the current fiscal year. Cardinal Health's revenue was up 14.2% on a year-over-year basis. -Earnings Decline (Y-o-Y): -13.3% -EPS (Q1): $1.09 vs. $1.24 a year ago.

The firm also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Investors of record on Tuesday, January 3rd will be given a dividend of $0.4489 per share. The ex-dividend date was Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.08%. Cardinal Health had 39 analyst reports since August 10, 2015 according to SRatingsIntel.

Several brokerages recently weighed in on CAH. Jefferies Group LLC reaffirmed a "hold" rating and set a $77.00 target price on shares of Cardinal Health in a research note on Thursday, July 27th. Credit Suisse Group reaffirmed an "outperform" rating and set a $87.00 target price (up from $81.00) on shares of Cardinal Health in a research note on Thursday, July 13th. UBS AG reiterated a "neutral" rating and set a $76.00 price target (down from $79.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Cardinal Health now has a consensus rating of "Buy" and an average price target of $91.62. Martingale Asset Mngmt LP has invested 0.15% in Cardinal Health Inc (NYSE:CAH). Pictet Asset Management Ltd. now owns 244,469 shares of the company's stock valued at $16,360,000 after acquiring an additional 67,600 shares during the period. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Adams Asset Advisors Llc who had been investing in Arcbest Corporation for a number of months, seems to be bullish on the $848.31M market cap company.

Cardinal Health recently completed its $6.1 billion purchase of Medtronic PLC's patient-recovery business to bolster its portfolio of medical products.

Cardinal said falling prices for generic drugs dented profits at its main pharmaceutical business that distributes branded and generic drugs.



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