Oppenheimer & Co. Inc. raised its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 28.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,966 shares of the company’s stock after acquiring an additional 5,538 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cardinal Health were worth $1,219,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CAH. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Cardinal Health by 4.0% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,582,776 shares of the company’s stock worth $1,164,768,000 after purchasing an additional 706,543 shares during the period. Boston Partners boosted its position in Cardinal Health by 74.4% during the first quarter. Boston Partners now owns 6,095,384 shares of the company’s stock worth $382,059,000 after purchasing an additional 2,599,918 shares during the period. American Century Companies Inc. boosted its position in Cardinal Health by 52.2% during the second quarter. American Century Companies Inc. now owns 4,461,439 shares of the company’s stock worth $217,852,000 after purchasing an additional 1,530,702 shares during the period. Northern Trust Corp boosted its position in Cardinal Health by 0.3% during the first quarter. Northern Trust Corp now owns 4,322,657 shares of the company’s stock worth $270,944,000 after purchasing an additional 14,642 shares during the period. Finally, Pzena Investment Management LLC boosted its position in Cardinal Health by 2.0% during the second quarter. Pzena Investment Management LLC now owns 2,932,134 shares of the company’s stock worth $143,176,000 after purchasing an additional 58,495 shares during the period. 87.89% of the stock is owned by institutional investors.
CAH has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and set a $56.00 price objective on shares of Cardinal Health in a research report on Tuesday, August 7th. Argus reduced their price objective on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, July 16th. Morgan Stanley reduced their price objective on shares of Cardinal Health from $55.00 to $40.00 and set an “underweight” rating for the company in a research report on Tuesday, July 3rd. Robert W. Baird reaffirmed a “hold” rating and set a $51.00 price objective on shares of Cardinal Health in a research report on Friday, July 20th. Finally, Mizuho reaffirmed a “hold” rating and set a $53.00 price objective on shares of Cardinal Health in a research report on Sunday, August 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $62.00.
In other news, CEO Jon L. Giacomin sold 2,890 shares of Cardinal Health stock in a transaction on Monday, August 20th. The stock was sold at an average price of $51.95, for a total transaction of $150,135.50. Following the completion of the sale, the chief executive officer now owns 72,652 shares of the company’s stock, valued at $3,774,271.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is currently owned by company insiders.
CAH opened at $51.23 on Wednesday. Cardinal Health Inc has a fifty-two week low of $48.14 and a fifty-two 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. The firm has a market cap of $16.12 billion, a PE ratio of 10.87, a PEG ratio of 1.72 and a beta of 1.04.
Cardinal Health (NYSE:CAH) last posted its earnings results on Monday, August 6th. The company reported $1.01 earnings per share for the quarter, topping 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 company had revenue of $35.35 billion during the quarter, compared to the consensus estimate of $34.38 billion. During the same quarter last year, the firm earned $1.31 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. sell-side analysts predict that Cardinal Health Inc will post 5.04 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a dividend of $0.4763 per share. The ex-dividend date is Friday, September 28th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.72%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio (DPR) is currently 38.20%.
Cardinal Health Profile
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.
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