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Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Assetmark Inc.

Cardinal Health logo with Medical background

Key Points

  • Assetmark Inc. increased its stake in Cardinal Health, Inc. by 33.6%, acquiring an additional 19,473 shares, bringing its total holdings to 77,428 shares worth approximately $10.67 million.
  • Cardinal Health recently reported $2.35 EPS for the quarter, exceeding analysts' expectations, with revenue totaling $54.88 billion, slightly below forecasts.
  • The company announced an increase in its quarterly dividend to $0.5107 per share, representing an annual yield of 1.30% and a payout ratio of 31.83%.
  • Five stocks to consider instead of Cardinal Health.

Assetmark Inc. grew its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 33.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 77,428 shares of the company's stock after buying an additional 19,473 shares during the period. Assetmark Inc.'s holdings in Cardinal Health were worth $10,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in Cardinal Health by 7.7% during the first quarter. Cetera Investment Advisers now owns 111,662 shares of the company's stock worth $15,384,000 after acquiring an additional 7,974 shares in the last quarter. Avantax Advisory Services Inc. grew its position in shares of Cardinal Health by 16.4% in the first quarter. Avantax Advisory Services Inc. now owns 9,352 shares of the company's stock valued at $1,288,000 after purchasing an additional 1,318 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of Cardinal Health by 4.5% in the first quarter. Wedbush Securities Inc. now owns 4,859 shares of the company's stock valued at $669,000 after buying an additional 209 shares during the period. IMA Advisory Services Inc. bought a new stake in shares of Cardinal Health in the first quarter valued at approximately $130,000. Finally, Vestor Capital LLC boosted its stake in shares of Cardinal Health by 110.7% in the first quarter. Vestor Capital LLC now owns 178,390 shares of the company's stock valued at $24,577,000 after buying an additional 93,710 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the subject of several analyst reports. Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Robert W. Baird lifted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. 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 upped their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.07.

Read Our Latest Stock Analysis on CAH

Cardinal Health Stock Performance

Shares of CAH traded up $0.08 during mid-day trading on Wednesday, hitting $157.47. 196,225 shares of the stock were exchanged, compared to its average volume of 2,371,941. The company has a market cap of $37.58 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.68. Cardinal Health, Inc. has a 52-week low of $96.05 and a 52-week high of $168.44. The firm has a 50-day moving average of $159.53 and a two-hundred day moving average of $142.13.

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

Cardinal Health Increases Dividend

The company also recently declared 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 was Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.30%. Cardinal Health's dividend payout ratio is presently 31.83%.

Cardinal Health Profile

(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.

Further Reading

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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