V Square Quantitative Management LLC Buys 1,000 Shares of Cardinal Health, Inc. (NYSE:CAH)

V Square Quantitative Management LLC boosted its position in Cardinal Health, Inc. (NYSE:CAHFree Report) by 12.6% during the first quarter, Holdings Channel reports. The fund owned 8,919 shares of the company’s stock after acquiring an additional 1,000 shares during the period. V Square Quantitative Management LLC’s holdings in Cardinal Health were worth $998,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Cardinal Health in the 4th quarter worth $258,499,000. Ameriprise Financial Inc. increased its holdings in shares of Cardinal Health by 82.2% in the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after buying an additional 1,862,291 shares during the period. California Public Employees Retirement System lifted its stake in shares of Cardinal Health by 118.9% in the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after acquiring an additional 823,520 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Cardinal Health during the 4th quarter valued at about $464,800,000. Finally, CIBC Private Wealth Group LLC grew its position in Cardinal Health by 1,941.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after acquiring an additional 435,722 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CAH. Robert W. Baird lowered their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Wells Fargo & Company dropped their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Evercore ISI boosted their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, UBS Group boosted their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $107.57.

Get Our Latest Research Report on CAH

Cardinal Health Trading Down 2.5 %

Shares of CAH stock traded down $2.44 during midday trading on Tuesday, reaching $96.02. 2,178,595 shares of the stock were exchanged, compared to its average volume of 2,225,878. The firm has a market cap of $23.39 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. The company’s 50 day moving average is $105.60 and its two-hundred day moving average is $105.60. Cardinal Health, Inc. has a 1 year low of $80.90 and a 1 year high of $116.04.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the prior year, the company earned $1.74 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 annualized dividend and a yield of 2.11%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is presently 88.89%.

About Cardinal Health

(Free Report)

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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