CIBC Asset Management Inc grew its stake in Cardinal Health Inc (NYSE:CAH) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,998 shares of the company’s stock after buying an additional 379 shares during the quarter. CIBC Asset Management Inc’s holdings in Cardinal Health were worth $1,357,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Raymond James & Associates increased its position in Cardinal Health by 12.7% in the second quarter. Raymond James & Associates now owns 105,640 shares of the company’s stock worth $5,513,000 after buying an additional 11,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cardinal Health by 48.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,872 shares of the company’s stock worth $4,690,000 after acquiring an additional 29,459 shares during the period. Meritage Portfolio Management bought a new position in shares of Cardinal Health in the second quarter worth about $2,185,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Cardinal Health by 77.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 20,367 shares of the company’s stock worth $1,063,000 after acquiring an additional 8,861 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Cardinal Health by 10.6% in the second quarter. Nisa Investment Advisors LLC now owns 138,357 shares of the company’s stock worth $7,221,000 after acquiring an additional 13,308 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.
CAH has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Cardinal Health from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, June 15th. Mizuho upped their price objective on Cardinal Health from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. ValuEngine lowered Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Bank of America increased their price target on Cardinal Health from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Zacks Investment Research lowered Cardinal Health from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research note on Tuesday, May 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $58.27.
Shares of Cardinal Health stock opened at $54.62 on Friday. The firm has a market cap of $15.95 billion, a PE ratio of -3.88, a PEG ratio of 2.06 and a beta of 0.99. Cardinal Health Inc has a 12 month low of $39.05 and a 12 month high of $60.69. The stock has a 50 day moving average of $52.96 and a 200 day moving average of $52.11. The company has a current ratio of 1.05, a quick ratio of 0.53 and a debt-to-equity ratio of 5.60.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Monday, May 11th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.19. The business had revenue of $39.16 billion during the quarter, compared to analyst estimates of $37.04 billion. Cardinal Health had a positive return on equity of 69.23% and a negative net margin of 2.71%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the company earned $1.59 EPS. As a group, equities research analysts forecast that Cardinal Health Inc will post 5.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.486 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.56%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Tuesday, June 30th. Cardinal Health’s dividend payout ratio (DPR) is presently 36.74%.
Cardinal Health 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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