Asset Management One Co. Ltd. increased its stake in Cardinal Health Inc (NYSE:CAH) by 55.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,932 shares of the company’s stock after acquiring an additional 80,325 shares during the period. Asset Management One Co. Ltd. owned approximately 0.08% of Cardinal Health worth $10,593,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CAH. MML Investors Services LLC lifted its holdings in shares of Cardinal Health by 1.2% during the 2nd quarter. MML Investors Services LLC now owns 19,478 shares of the company’s stock worth $917,000 after acquiring an additional 225 shares during the period. Rockland Trust Co. raised its position in Cardinal Health by 1.4% during the second quarter. Rockland Trust Co. now owns 16,807 shares of the company’s stock worth $792,000 after acquiring an additional 231 shares in the last quarter. Securian Asset Management Inc increased its holdings in shares of Cardinal Health by 0.9% in the second quarter. Securian Asset Management Inc now owns 30,656 shares of the company’s stock valued at $1,444,000 after purchasing an additional 265 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Cardinal Health by 2.0% in the second quarter. Oppenheimer & Co. Inc. now owns 14,595 shares of the company’s stock valued at $688,000 after purchasing an additional 282 shares during the last quarter. Finally, O Shares Investment Advisers LLC increased its holdings in shares of Cardinal Health by 3.0% in the first quarter. O Shares Investment Advisers LLC now owns 9,864 shares of the company’s stock valued at $475,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 90.20% of the company’s stock.
Shares of CAH stock traded up $0.87 during trading hours on Friday, hitting $46.92. 1,989,866 shares of the company were exchanged, compared to its average volume of 2,497,841. The firm has a market cap of $13.25 billion, a P/E ratio of 8.89, a P/E/G ratio of 1.52 and a beta of 1.32. Cardinal Health Inc has a fifty-two week low of $41.03 and a fifty-two week high of $58.31. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 1.07. The company has a 50 day simple moving average of $45.86 and a two-hundred day simple moving average of $45.96.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.18. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The business had revenue of $37.35 billion during the quarter, compared to the consensus estimate of $36.70 billion. During the same quarter last year, the firm posted $1.01 EPS. Cardinal Health’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Cardinal Health Inc will post 4.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.4811 per share. This represents a $1.92 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Monday, September 30th. Cardinal Health’s dividend payout ratio (DPR) is presently 36.36%.
Several equities analysts recently commented on the stock. Deutsche Bank began coverage on shares of Cardinal Health in a research note on Thursday, September 12th. They issued a “hold” rating and a $50.00 price target on the stock. Guggenheim set a $55.00 target price on shares of Cardinal Health and gave the stock a “buy” rating in a report on Thursday, September 12th. Morgan Stanley dropped their price objective on shares of Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, September 6th. ValuEngine upgraded shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Cardinal Health presently has an average rating of “Hold” and an average price target 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.
Recommended Story: What are no-load funds?
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.