Bank of America Corp DE raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 40.8% in the 1st quarter, HoldingsChannel reports. The firm owned 1,213,338 shares of the company’s stock after purchasing an additional 351,855 shares during the period. Bank of America Corp. DE’s holdings in Cardinal Health were worth $68,798,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Cardinal Health by 44.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,698 shares of the company’s stock valued at $2,932,000 after purchasing an additional 15,956 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Cardinal Health in the 1st quarter worth approximately $2,378,000. CFS Investment Advisory Services LLC lifted its holdings in shares of Cardinal Health by 6,455.0% in the 1st quarter. CFS Investment Advisory Services LLC now owns 1,513,493 shares of the company’s stock worth $27,000 after acquiring an additional 1,490,404 shares during the last quarter. Verity Asset Management Inc. bought a new stake in shares of Cardinal Health in the 1st quarter worth approximately $260,000. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Cardinal Health by 1.6% in the 1st quarter. Neuberger Berman Group LLC now owns 91,085 shares of the company’s stock worth $5,165,000 after acquiring an additional 1,437 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on CAH. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 12th. Robert W. Baird boosted their price objective on shares of Cardinal Health from $57.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, August 12th. Mizuho lifted their target price on shares of Cardinal Health from $58.00 to $66.00 in a research note on Friday, August 12th. Barclays lifted their target price on shares of Cardinal Health to $67.00 in a research note on Monday, August 15th. Finally, UBS Group lifted their target price on shares of Cardinal Health from $61.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, August 29th. Seven equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health currently has an average rating of “Hold” and an average target price of $70.20.
Cardinal Health Stock Down 1.8%
Shares of Cardinal Health stock opened at $66.05 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.57 and a debt-to-equity ratio of 5.33. The company’s fifty day simple moving average is $65.20 and its two-hundred day simple moving average is $59.45. The company has a market cap of $18.00 billion, a P/E ratio of 9.92, a PEG ratio of 1.48 and a beta of 0.77. Cardinal Health, Inc. has a 12-month low of $45.85 and a 12-month high of $72.28.
Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.12). The company had revenue of $47.10 billion for the quarter, compared to analysts’ expectations of $44.82 billion. Cardinal Health had a negative net margin of 0.51% and a positive return on equity of 568.57%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. Research analysts anticipate that Cardinal Health, Inc. will post 5.27 EPS for the current year.
Cardinal Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.4957 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, September 30th. Cardinal Health’s dividend payout ratio (DPR) is presently 29.73%.
About Cardinal Health
Cardinal Health, Inc. operates as an integrated healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.
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