The Manufacturers Life Insurance Company grew its stake in shares of Cardinal Health Inc (NYSE:CAH) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 396,979 shares of the company’s stock after buying an additional 7,650 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cardinal Health were worth $24,883,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Macquarie Group Ltd. increased its position in shares of Cardinal Health by 5.1% during the fourth quarter. Macquarie Group Ltd. now owns 10,625,511 shares of the company’s stock valued at $651,092,000 after buying an additional 520,137 shares during the period. Boston Partners grew its holdings in shares of Cardinal Health by 74.4% during the first quarter. Boston Partners now owns 6,095,384 shares of the company’s stock worth $382,059,000 after purchasing an additional 2,599,918 shares in the last quarter. Vulcan Value Partners LLC grew its holdings in shares of Cardinal Health by 3.5% during the fourth quarter. Vulcan Value Partners LLC now owns 4,786,270 shares of the company’s stock worth $293,255,000 after purchasing an additional 161,654 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Cardinal Health by 0.3% during the first quarter. Northern Trust Corp now owns 4,322,657 shares of the company’s stock worth $270,944,000 after purchasing an additional 14,642 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Cardinal Health by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 3,447,276 shares of the company’s stock worth $210,787,000 after purchasing an additional 128,656 shares in the last quarter. Hedge funds and other institutional investors own 91.95% of the company’s stock.
Several research analysts have recently commented on the company. TheStreet raised Cardinal Health from a “c+” rating to a “b-” rating in a report on Tuesday, March 13th. Barclays assumed coverage on Cardinal Health in a report on Thursday, March 8th. They set an “equal weight” rating and a $74.00 price objective for the company. ValuEngine lowered Cardinal Health from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Argus raised Cardinal Health from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Monday, April 2nd. Finally, Royal Bank of Canada set a $81.00 price objective on Cardinal Health and gave the stock a “hold” rating in a report on Tuesday, April 24th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $69.79.
Shares of CAH opened at $54.25 on Thursday. The company has a market capitalization of $16.81 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 1.63 and a beta of 0.99. The company has a quick ratio of 0.54, a current ratio of 1.10 and a debt-to-equity ratio of 1.20. Cardinal Health Inc has a 1 year low of $50.79 and a 1 year high of $80.37.
Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.12). The firm had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $33.61 billion. Cardinal Health had a return on equity of 23.39% and a net margin of 1.26%. sell-side analysts anticipate that Cardinal Health Inc will post 4.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, July 15th. Stockholders of record on Monday, July 2nd will be paid a dividend of $0.476 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Friday, June 29th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.46. Cardinal Health’s dividend payout ratio is 34.26%.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company worldwide. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare, and consumer products to retailers, hospitals, and other healthcare providers.
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