Convergence Investment Partners LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 38,602 shares of the company’s stock, valued at approximately $2,583,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its holdings in Cardinal Health by 31.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock worth $123,000 after buying an additional 382 shares during the last quarter. Advisory Services Network LLC increased its holdings in Cardinal Health by 18.4% during the second quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock worth $136,000 after buying an additional 270 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Cardinal Health during the second quarter worth $164,000. First Personal Financial Services increased its holdings in Cardinal Health by 127.5% during the second quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock worth $172,000 after buying an additional 1,238 shares during the last quarter. Finally, Sun Life Financial INC increased its holdings in Cardinal Health by 16,228.6% during the second quarter. Sun Life Financial INC now owns 2,286 shares of the company’s stock worth $178,000 after buying an additional 2,272 shares during the last quarter. Institutional investors and hedge funds own 88.47% of the company’s stock.
Cardinal Health, Inc. (NYSE:CAH) opened at $61.02 on Tuesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52. Cardinal Health, Inc. has a fifty-two week low of $54.66 and a fifty-two week high of $84.88. The company has a market cap of $19,230.00, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be paid a $0.4624 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.85 annualized dividend and a dividend yield of 3.03%. Cardinal Health’s dividend payout ratio (DPR) is presently 53.94%.
A number of brokerages recently weighed in on CAH. UBS restated a “neutral” rating and set a $76.00 target price (down from $79.00) on shares of Cardinal Health in a report on Wednesday, August 9th. Deutsche Bank began coverage on shares of Cardinal Health in a report on Monday. They set a “hold” rating and a $64.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Finally, Jefferies Group decreased their price objective on shares of Cardinal Health from $77.00 to $67.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. Cardinal Health currently has an average rating of “Hold” and an average price target of $73.91.
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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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