ABLE Financial Group LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,611 shares of the company's stock, valued at approximately $222,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Cardinal Health by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock worth $691,145,000 after buying an additional 109,273 shares in the last quarter. Invesco Ltd. grew its holdings in Cardinal Health by 4.6% in the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after buying an additional 140,368 shares in the last quarter. Marshall Wace LLP grew its holdings in Cardinal Health by 154.6% in the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after buying an additional 1,913,892 shares in the last quarter. Northern Trust Corp grew its holdings in Cardinal Health by 16.2% in the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after buying an additional 422,755 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Cardinal Health by 4.3% during the 4th 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 purchasing an additional 94,768 shares in the last quarter. 87.17% of the stock is owned by institutional investors.
Cardinal Health Stock Up 1.7%
Shares of Cardinal Health stock traded up $2.82 during midday trading on Friday, hitting $164.80. The company's stock had a trading volume of 1,234,057 shares, compared to its average volume of 2,246,270. The firm has a market capitalization of $39.33 billion, a P/E ratio of 25.71, a PEG ratio of 1.63 and a beta of 0.68. The stock has a 50-day simple moving average of $155.58 and a 200-day simple moving average of $137.31. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $168.44.
Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. Cardinal Health's revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 earnings per share. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.
Cardinal Health Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is 31.83%.
Analyst Ratings Changes
CAH has been the subject of a number of research reports. Bank of America increased their price target on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price target (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Mizuho increased their price target on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Morgan Stanley set a $181.00 price objective on Cardinal Health and gave the stock an "overweight" rating in a research note on Friday, June 13th. Finally, UBS Group raised their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Three 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.43.
Read Our Latest Research Report on CAH
About Cardinal Health
(
Free Report)
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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