Wells Fargo & Company MN reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 19.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,024,389 shares of the company’s stock after selling 240,300 shares during the period. Wells Fargo & Company MN owned about 0.33% of Cardinal Health worth $68,553,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CAH. Vanguard Group Inc. grew its stake in Cardinal Health by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock worth $1,842,205,000 after buying an additional 440,967 shares during the last quarter. BlackRock Inc. grew its stake in shares of Cardinal Health by 6.5% in the second quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock worth $1,779,958,000 after purchasing an additional 1,398,496 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Cardinal Health by 4.6% in the third quarter. Macquarie Group Ltd. now owns 10,105,374 shares of the company’s stock worth $676,253,000 after purchasing an additional 445,399 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Cardinal Health by 72.1% in the second quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock worth $489,613,000 after purchasing an additional 2,632,836 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Cardinal Health by 38.6% in the third quarter. Ameriprise Financial Inc. now owns 4,930,457 shares of the company’s stock worth $329,964,000 after purchasing an additional 1,373,334 shares in the last quarter. 88.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cardinal Health, Inc. (NYSE CAH) opened at $58.50 on Friday. The stock has a market capitalization of $18,788.13, a PE ratio of 11.33, a P/E/G ratio of 1.73 and a beta of 0.85. 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 one year low of $54.66 and a one year high of $84.88.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $32.64 billion during the quarter, compared to the consensus estimate of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 EPS. analysts predict that Cardinal Health, Inc. will post 4.97 earnings per share for the current year.
The firm also recently disclosed 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. This represents a $1.85 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, December 29th. Cardinal Health’s dividend payout ratio is currently 53.78%.
CAH has been the subject of several recent analyst reports. BidaskClub cut Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Jefferies Group set a $77.00 price target on Cardinal Health and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Cardinal Health in a research note on Sunday, September 10th. Robert W. Baird reaffirmed a “hold” rating and set a $73.00 target price on shares of Cardinal Health in a research note on Sunday, September 17th. Finally, Royal Bank Of Canada started coverage on Cardinal Health in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $72.00 target price for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The stock presently 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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