MAI Capital Management grew its holdings in Cardinal Health Inc (NYSE:CAH) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,599 shares of the company’s stock after purchasing an additional 3,352 shares during the period. MAI Capital Management’s holdings in Cardinal Health were worth $4,082,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of CAH. LFA Lugano Financial Advisors SA purchased a new position in Cardinal Health during the third quarter valued at approximately $108,000. NEXT Financial Group Inc purchased a new position in Cardinal Health during the third quarter valued at approximately $111,000. Sentry Investment Management LLC purchased a new position in Cardinal Health during the second quarter valued at approximately $132,000. Mount Yale Investment Advisors LLC purchased a new position in Cardinal Health during the first quarter valued at approximately $136,000. Finally, Exane Asset Management purchased a new position in Cardinal Health during the second quarter valued at approximately $153,000. 87.90% of the stock is currently owned by institutional investors.
CAH stock opened at $51.63 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.07 and a quick ratio of 0.53. Cardinal Health Inc has a one year low of $48.14 and a one year high of $75.75. The company has a market capitalization of $16.19 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.69 and a beta of 1.02.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, August 6th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. Cardinal Health had a net margin of 0.19% and a return on equity of 22.59%. The business had revenue of $35.35 billion during the quarter, compared to analysts’ expectations of $34.38 billion. During the same quarter in the previous year, the company earned $1.31 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts forecast that Cardinal Health Inc will post 5.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be paid a $0.4763 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Friday, September 28th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s payout ratio is currently 38.20%.
In other Cardinal Health news, CEO Jon L. Giacomin sold 2,890 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $51.95, for a total value of $150,135.50. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.
CAH has been the subject of several recent analyst reports. Argus reduced their price objective on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, July 16th. Royal Bank of Canada reaffirmed a “hold” rating and set a $56.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 7th. Robert W. Baird reaffirmed a “hold” rating and set a $51.00 price objective on shares of Cardinal Health in a research note on Friday, July 20th. Zacks Investment Research raised shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, Mizuho reaffirmed a “hold” rating and set a $53.00 price objective on shares of Cardinal Health in a research note on Sunday, August 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $61.33.
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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