Charter Research Investment Group Lowers stake in Cardinal Health Inc (CAH)

Cardinal Health Inc (CAH) : Charter Research Investment Group reduced its stake in Cardinal Health Inc by 3.01% during the most recent quarter end. The investment management company now holds a total of 31,901 shares of Cardinal Health Inc which is valued at $2.4 Million after selling 990 shares in Cardinal Health Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Cardinal Health Inc makes up approximately 2.79% of Charter Research Investment Group’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in CAH in the latest quarter, The investment management firm added 869,675 additional shares and now holds a total of 21,940,575 shares of Cardinal Health Inc which is valued at $1,673 Million. Cardinal Health Inc makes up approx 0.11% of Vanguard Group Inc’s portfolio.Cls Investments boosted its stake in CAH in the latest quarter, The investment management firm added 566 additional shares and now holds a total of 5,091 shares of Cardinal Health Inc which is valued at $388,189. Cardinal Health Inc makes up approx 0.02% of Cls Investments’s portfolio.Cibc Asset Management Inc boosted its stake in CAH in the latest quarter, The investment management firm added 496 additional shares and now holds a total of 35,350 shares of Cardinal Health Inc which is valued at $2.7 Million. Cardinal Health Inc makes up approx 0.02% of Cibc Asset Management Inc’s portfolio.Spectrum Management Group reduced its stake in CAH by selling 40 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 3,635 shares of CAH which is valued at $285,202. Cardinal Health Inc makes up approx 0.11% of Spectrum Management Group’s portfolio.

Cardinal Health Inc closed down -0.73 points or -0.94% at $76.73 with 30,11,025 shares getting traded on Wednesday. Post opening the session at $77.78, the shares hit an intraday low of $76.69 and an intraday high of $77.99 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Cardinal Health Inc reported $1.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.33. The company had revenue of $30662.00 million for the quarter, compared to analysts expectations of $30439.59 million. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS.

Investors should note that on May 4, 2016, Cardinal Health Inc announced a cash dividend of $0.4489. The company’s management has announced Jun 29, 2016 as the ex-dividend date and fixed the record date on Jul 1, 2016. The payable date has been fixed on Jul 15, 2016.

Many Wall Street Analysts have commented on Cardinal Health Inc. Avondale Initiated Cardinal Health Inc on Apr 19, 2016 to “Mkt Outperform”, Price Target of the shares are set at $111.Cardinal Health Inc was Initiated by Credit Suisse to “Outperform” on Mar 16, 2016.

Cardinal Health Inc. is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers hospitals and other healthcare providers. In China the Pharmaceutical segment distributes branded generic and specialty pharmaceutical over-the-counter healthcare and consumer products provides logistics marketing and other services and operates direct-to-patient specialty pharmacies through Cardinal Health China. The Medical segment distributes a range of medical surgical and laboratory products and provides services to hospitals ambulatory surgery centers clinical laboratories and other healthcare providers.

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