Buckley Wealth Management LLC increased its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,480 shares of the company’s stock after purchasing an additional 340 shares during the period. Buckley Wealth Management LLC’s holdings in Cardinal Health were worth $636,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC purchased a new position in Cardinal Health during the 3rd quarter worth $28,000. Advantage Investment Management LLC purchased a new position in Cardinal Health during the 3rd quarter worth $31,000. Financial Gravity Wealth Inc. raised its position in Cardinal Health by 258.5% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock worth $33,000 after buying an additional 499 shares during the last quarter. SRS Capital Advisors Inc. purchased a new position in Cardinal Health during the 2nd quarter worth $36,000. Finally, Trustcore Financial Services LLC raised its position in Cardinal Health by 80.6% during the 2nd quarter. Trustcore Financial Services LLC now owns 784 shares of the company’s stock worth $37,000 after buying an additional 350 shares during the last quarter. Institutional investors own 90.20% of the company’s stock.
Shares of CAH traded up $0.89 during trading hours on Friday, reaching $46.94. The company had a trading volume of 124,124 shares, compared to its average volume of 2,551,228. The firm has a 50 day simple moving average of $45.80 and a 200-day simple moving average of $45.97. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 1.49 and a beta of 1.32. Cardinal Health Inc has a 12-month low of $41.03 and a 12-month high of $58.31.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.18. The business had revenue of $37.35 billion during the quarter, compared to the consensus estimate of $36.70 billion. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. Sell-side analysts forecast that Cardinal Health Inc will post 4.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.4811 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.10%. Cardinal Health’s dividend payout ratio is presently 36.36%.
A number of equities analysts have commented on the stock. Morgan Stanley cut their price objective on shares of Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, September 6th. Guggenheim set a $55.00 price objective on shares of Cardinal Health and gave the stock a “buy” rating in a research report on Thursday, September 12th. Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. ValuEngine upgraded shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Deutsche Bank began coverage on shares of Cardinal Health in a report on Thursday, September 12th. They issued a “hold” rating and a $50.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.63.
Cardinal Health Company 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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