BlackRock Inc. raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,843,418 shares of the company’s stock after purchasing an additional 1,398,496 shares during the period. BlackRock Inc. owned about 7.23% of Cardinal Health worth $1,779,958,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its position in shares of Cardinal Health by 31.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock valued at $123,000 after purchasing an additional 382 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 14.3% in the 2nd quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock valued at $152,000 after acquiring an additional 244 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $164,000. First Personal Financial Services increased its holdings in shares of Cardinal Health by 127.5% in the 2nd quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock valued at $172,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Alpha Windward LLC increased its holdings in shares of Cardinal Health by 0.7% in the 2nd quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after acquiring an additional 17 shares during the last quarter. 87.68% of the stock is currently owned by institutional investors.
CAH has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Cardinal Health from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Credit Suisse Group reiterated an “outperform” rating and issued a $87.00 price target (up from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. ValuEngine downgraded Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Finally, Vetr downgraded Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 price objective for the company. in a research note on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. Cardinal Health has a consensus rating of “Hold” and an average target price of $79.58.
Shares of Cardinal Health, Inc. (NYSE:CAH) traded up 0.06% during midday trading on Friday, hitting $67.50. The stock had a trading volume of 4,676,862 shares. The firm has a market capitalization of $21.36 billion, a PE ratio of 16.75 and a beta of 0.85. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88. The firm’s 50-day moving average price is $68.30 and its 200-day moving average price is $75.04.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Cardinal Health, Inc. will post $4.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. The ex-dividend date is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.74%. Cardinal Health’s dividend payout ratio (DPR) is presently 45.79%.
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About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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