World Asset Management Inc boosted its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 4.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 26,721 shares of the company’s stock after acquiring an additional 1,078 shares during the quarter. World Asset Management Inc’s holdings in Cardinal Health were worth $1,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CAH. NEXT Financial Group Inc acquired a new stake in Cardinal Health during the third quarter worth $111,000. Sentry Investment Management LLC acquired a new stake in Cardinal Health during the second quarter worth $132,000. Mount Yale Investment Advisors LLC bought a new position in shares of Cardinal Health during the first quarter valued at $136,000. Exane Asset Management bought a new position in shares of Cardinal Health during the second quarter valued at $153,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Cardinal Health during the second quarter valued at $165,000. Hedge funds and other institutional investors own 87.90% of the company’s stock.

Shares of NYSE CAH opened at $51.63 on Friday. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.69 and a beta of 1.02. Cardinal Health Inc has a 52-week low of $48.14 and a 52-week high of $75.75. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.07 and a quick ratio of 0.53.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, August 6th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The business had revenue of $35.35 billion during the quarter, compared to analysts’ expectations of $34.38 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that Cardinal Health Inc will post 5.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be issued a $0.4763 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.69%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, September 28th. Cardinal Health’s payout ratio is currently 38.20%.

In related news, CEO Jon L. Giacomin sold 2,890 shares of Cardinal Health stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $51.95, for a total value of $150,135.50. Following the completion of the transaction, the chief executive officer now directly owns 72,652 shares of the company’s stock, valued at $3,774,271.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

CAH has been the subject of a number of analyst reports. Royal Bank of Canada set a $60.00 price objective on Cardinal Health and gave the company a “hold” rating in a report on Friday, September 21st. Argus cut their price objective on Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, July 16th. Morgan Stanley cut their price objective on Cardinal Health from $55.00 to $40.00 and set an “underweight” rating for the company in a report on Tuesday, July 3rd. Mizuho reissued a “hold” rating and set a $53.00 price objective on shares of Cardinal Health in a report on Sunday, August 12th. Finally, Robert W. Baird reissued a “hold” rating and set a $51.00 price objective on shares of Cardinal Health in a report on Friday, July 20th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.33.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

Further Reading: The Role of a Fiduciary and Individual Investors

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

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