Baird Financial Group Inc. raised its position in shares of Cardinal Health Inc (NYSE:CAH) by 11.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,549 shares of the company’s stock after purchasing an additional 4,881 shares during the period. Baird Financial Group Inc.’s holdings in Cardinal Health were worth $2,322,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. IFM Investors Pty Ltd raised its stake in shares of Cardinal Health by 10.9% during the 1st quarter. IFM Investors Pty Ltd now owns 10,033 shares of the company’s stock worth $629,000 after purchasing an additional 987 shares in the last quarter. Cambridge Financial Group Inc. raised its stake in shares of Cardinal Health by 1.2% during the 1st quarter. Cambridge Financial Group Inc. now owns 88,070 shares of the company’s stock worth $5,520,000 after purchasing an additional 1,049 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Cardinal Health by 17.0% during the 2nd quarter. Sigma Planning Corp now owns 8,650 shares of the company’s stock worth $422,000 after purchasing an additional 1,256 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Cardinal Health by 7.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,987 shares of the company’s stock worth $1,190,000 after purchasing an additional 1,272 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Cardinal Health by 23.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,826 shares of the company’s stock worth $333,000 after purchasing an additional 1,287 shares in the last quarter. 87.89% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on CAH. Robert W. Baird cut their price target on Cardinal Health from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, August 7th. Argus cut their price objective on Cardinal Health from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, July 16th. Mizuho reissued a “hold” rating and issued a $53.00 price objective on shares of Cardinal Health in a research note on Sunday, August 12th. Morgan Stanley cut their price objective on Cardinal Health from $55.00 to $40.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 3rd. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $56.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and an average target price of $62.00.
Shares of CAH stock opened at $52.10 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.53 and a debt-to-equity ratio of 1.32. Cardinal Health Inc has a twelve month low of $48.14 and a twelve month high of $75.75. The company has a market capitalization of $16.35 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.74 and a beta of 1.04.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Monday, August 6th. The company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The business had revenue of $35.35 billion for the quarter, compared to the consensus estimate of $34.38 billion. During the same period last year, the business earned $1.31 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. research analysts forecast that Cardinal Health Inc will post 5.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a $0.4763 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.91 dividend on an annualized basis and a yield of 3.66%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio (DPR) is 38.20%.
In other Cardinal Health news, CEO Jon L. Giacomin sold 2,890 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $51.95, for a total value of $150,135.50. Following the sale, the chief executive officer now owns 72,652 shares of the company’s stock, valued at approximately $3,774,271.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.97% of the company’s stock.
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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