Cardinal Health Inc. (CAH) Stake Increased by LSV Asset Management
LSV Asset Management raised its stake in Cardinal Health Inc. (NYSE:CAH) by 89.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,127,790 shares of the company’s stock after buying an additional 1,476,990 shares during the period. LSV Asset Management owned about 0.97% of Cardinal Health worth $243,998,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bridgewater Wealth & Financial Management LLC increased its position in shares of Cardinal Health by 0.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 6,561 shares of the company’s stock valued at $512,000 after buying an additional 19 shares during the last quarter. Conning Inc. increased its position in Cardinal Health by 0.3% in the second quarter. Conning Inc. now owns 7,980 shares of the company’s stock valued at $623,000 after buying an additional 20 shares in the last quarter. Synovus Financial Corp increased its position in Cardinal Health by 0.5% in the second quarter. Synovus Financial Corp now owns 4,385 shares of the company’s stock valued at $346,000 after buying an additional 20 shares in the last quarter. First Financial Bank N.A. Trust Division increased its position in Cardinal Health by 0.6% in the second quarter. First Financial Bank N.A. Trust Division now owns 4,124 shares of the company’s stock valued at $322,000 after buying an additional 25 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in Cardinal Health by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,265 shares of the company’s stock valued at $333,000 after buying an additional 26 shares in the last quarter. 86.16% of the stock is currently owned by institutional investors and hedge funds.
Cardinal Health Inc. (NYSE:CAH) traded up 0.852% during trading on Thursday, reaching $77.505. The company’s stock had a trading volume of 1,985,826 shares. The stock’s 50-day moving average is $80.69 and its 200 day moving average is $80.61. Cardinal Health Inc. has a 12 month low of $73.25 and a 12 month high of $91.23. The company has a market cap of $24.69 billion, a P/E ratio of 17.941 and a beta of 0.59.
Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. The business had revenue of $31.40 billion for the quarter, compared to analyst estimates of $31.06 billion. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. Cardinal Health’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. On average, equities analysts forecast that Cardinal Health Inc. will post $5.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be issued a $0.4489 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.80 annualized dividend and a yield of 2.34%. Cardinal Health’s payout ratio is 41.67%.
CAH has been the topic of several research reports. Morgan Stanley reaffirmed a “hold” rating and set a $91.00 price objective on shares of Cardinal Health in a report on Monday, September 12th. Goldman Sachs Group Inc. downgraded Cardinal Health from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $83.00 in a report on Friday, September 16th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $97.00 price objective on shares of Cardinal Health in a report on Tuesday, August 30th. Bank of America Corp. initiated coverage on Cardinal Health in a report on Wednesday, June 8th. They set a “hold” rating on the stock. Finally, Zacks Investment Research downgraded Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $94.76.
In related news, CEO George S. Barrett sold 129,818 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $83.76, for a total value of $10,873,555.68. Following the transaction, the chief executive officer now owns 510,762 shares in the company, valued at $42,781,425.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO George S. Barrett sold 20,428 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $83.75, for a total transaction of $1,710,845.00. Following the completion of the transaction, the chief executive officer now owns 510,762 shares in the company, valued at approximately $42,776,317.50. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.
About Cardinal Health
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.
Receive News & Ratings for Cardinal Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health Inc. and related companies with MarketBeat.com's FREE daily email newsletter.