Public Employees Retirement System of Ohio raised its holdings in Cardinal Health Inc (NYSE:CAH) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,651 shares of the company’s stock after buying an additional 6,439 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Cardinal Health were worth $4,844,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Cardinal Health by 28.5% during the 2nd quarter. Invesco Ltd. now owns 8,150,786 shares of the company’s stock valued at $383,901,000 after acquiring an additional 1,808,381 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Cardinal Health by 236.2% during the second quarter. Nuveen Asset Management LLC now owns 2,044,496 shares of the company’s stock worth $96,296,000 after purchasing an additional 1,436,412 shares during the period. Macquarie Group Ltd. lifted its stake in Cardinal Health by 5.3% during the second quarter. Macquarie Group Ltd. now owns 14,736,537 shares of the company’s stock worth $694,090,000 after purchasing an additional 742,724 shares during the period. Point72 Asset Management L.P. lifted its stake in Cardinal Health by 12,324.4% during the third quarter. Point72 Asset Management L.P. now owns 683,344 shares of the company’s stock worth $32,247,000 after purchasing an additional 677,844 shares during the period. Finally, State Street Corp boosted its holdings in Cardinal Health by 3.1% during the third quarter. State Street Corp now owns 21,778,838 shares of the company’s stock valued at $1,038,087,000 after purchasing an additional 650,769 shares in the last quarter. 89.00% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on CAH shares. ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. TheStreet lowered Cardinal Health from a “c+” rating to a “d” rating in a research note on Thursday, November 7th. Guggenheim set a $55.00 price target on Cardinal Health and gave the company a “buy” rating in a research report on Thursday, September 12th. Deutsche Bank began coverage on Cardinal Health in a report on Thursday, September 12th. They set a “hold” rating and a $50.00 price objective for the company. Finally, Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Cardinal Health currently has a consensus rating of “Hold” and an average price target of $50.60.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, November 7th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.18. Cardinal Health had a negative net margin of 2.81% and a positive return on equity of 32.25%. The company had revenue of $37.34 billion for the quarter, compared to analyst estimates of $36.75 billion. During the same period in the prior year, the business earned $1.29 earnings per share. Cardinal Health’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts predict that Cardinal Health Inc will post 5.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.481 dividend. This represents a $1.92 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, December 31st. Cardinal Health’s dividend payout ratio (DPR) is presently 36.36%.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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