Private Advisor Group LLC Raises Position in Cardinal Health, Inc. (CAH)
Private Advisor Group LLC lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 107.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,965 shares of the company’s stock after purchasing an additional 3,088 shares during the period. Private Advisor Group LLC’s holdings in Cardinal Health were worth $457,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of CAH. BlackRock Inc. increased its holdings in shares of Cardinal Health by 1,041.8% in the first quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock valued at $1,748,835,000 after purchasing an additional 19,566,764 shares in the last quarter. FMR LLC increased its holdings in shares of Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock valued at $482,391,000 after purchasing an additional 1,895,089 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Cardinal Health in the first quarter valued at approximately $86,386,000. Vanguard Group Inc. increased its holdings in shares of Cardinal Health by 3.8% in the first quarter. Vanguard Group Inc. now owns 23,201,310 shares of the company’s stock valued at $1,892,067,000 after purchasing an additional 843,212 shares in the last quarter. Finally, Ariel Investments LLC increased its holdings in shares of Cardinal Health by 1,944.5% in the first quarter. Ariel Investments LLC now owns 746,789 shares of the company’s stock valued at $60,901,000 after purchasing an additional 710,263 shares in the last quarter. 87.68% of the stock is owned by institutional investors and hedge funds.
CAH has been the subject of a number of research reports. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Credit Suisse Group reissued an “outperform” rating and issued a $87.00 price target (up previously from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. BidaskClub lowered shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. ValuEngine lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Vetr lowered shares of Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 price target for the company. in a report on Thursday, June 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $79.27.
Shares of Cardinal Health, Inc. (CAH) opened at 67.50 on Friday. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.88. The firm has a market cap of $21.36 billion, a price-to-earnings ratio of 16.75 and a beta of 0.85. The firm’s 50-day moving average is $68.30 and its 200-day moving average is $75.04.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same period in the prior year, the company posted $1.14 EPS. The company’s revenue was up 5.0% on a year-over-year basis. Analysts predict that Cardinal Health, Inc. will post $4.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 45.79%.
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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