Point72 Asset Management L.P. grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 38.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 880,858 shares of the company’s stock after buying an additional 246,713 shares during the period. Point72 Asset Management L.P. owned approximately 0.28% of Cardinal Health worth $58,947,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Cardinal Health by 1.9% in the second quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock worth $1,842,205,000 after purchasing an additional 440,967 shares during the period. BlackRock Inc. increased its position 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 during the period. Macquarie Group Ltd. increased its position 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 during the period. Franklin Resources Inc. increased its position 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 during the period. Finally, Ameriprise Financial Inc. increased its position 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 during the period. Hedge funds and other institutional investors own 88.47% of the company’s stock.
A number of research analysts recently commented on CAH shares. BidaskClub cut Cardinal Health from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Jefferies Group set a $77.00 target price on Cardinal Health and gave the company a “hold” rating in a research report on Tuesday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a research report on Sunday, September 10th. Robert W. Baird reiterated a “hold” rating and issued a $73.00 target price on shares of Cardinal Health in a research report on Sunday, September 17th. Finally, Royal Bank of Canada assumed coverage on Cardinal Health in a research report on Tuesday, September 19th. They issued a “sector perform” rating and a $72.00 target price on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $73.91.
Shares of Cardinal Health, Inc. (CAH) opened at $60.24 on Tuesday. The firm has a market capitalization of $18,527.00, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. The company has a quick ratio of 0.52, a current ratio of 1.06 and a debt-to-equity ratio of 1.35. Cardinal Health, Inc. has a 1-year low of $54.66 and a 1-year high of $84.88.
Cardinal Health (NYSE:CAH) last issued its earnings results on Monday, November 6th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.09. The business 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 firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. equities analysts anticipate that Cardinal Health, Inc. will post 4.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be issued a $0.4624 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.85 dividend on an annualized basis and a yield of 3.07%. Cardinal Health’s payout ratio is currently 53.78%.
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Cardinal Health Profile
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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