Mackay Shields LLC lifted its position in shares of Cardinal Health Inc (NYSE:CAH) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,257 shares of the company’s stock after acquiring an additional 12,503 shares during the period. Mackay Shields LLC owned about 0.06% of Cardinal Health worth $8,459,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new stake in Cardinal Health in the third quarter worth $28,000. Advantage Investment Management LLC bought a new position in shares of Cardinal Health in the third quarter worth $31,000. Financial Gravity Wealth Inc. grew its stake in shares of Cardinal Health by 258.5% in the second quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock worth $33,000 after purchasing an additional 499 shares in the last quarter. SRS Capital Advisors Inc. bought a new position in shares of Cardinal Health in the second quarter worth $36,000. Finally, NuWave Investment Management LLC grew its stake in shares of Cardinal Health by 358.1% in the third quarter. NuWave Investment Management LLC now owns 765 shares of the company’s stock worth $35,000 after purchasing an additional 598 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. Guggenheim set a $55.00 price target on Cardinal Health and gave the stock a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley decreased their price target on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, September 6th. Argus cut Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Deutsche Bank assumed coverage on Cardinal Health in a research note on Thursday, September 12th. They issued a “hold” rating and a $50.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $53.63.
CAH stock traded down $0.31 during trading hours on Friday, hitting $52.89. 24,893 shares of the stock traded hands, compared to its average volume of 2,734,292. The stock has a 50-day simple moving average of $48.65 and a 200 day simple moving average of $46.36. Cardinal Health Inc has a one year low of $41.03 and a one year high of $58.31. The company has a market cap of $15.06 billion, a P/E ratio of 10.01, a P/E/G ratio of 1.72 and a beta of 1.32. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, November 7th. The company reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.18. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The business had revenue of $37.34 billion during the quarter, compared to analysts’ expectations of $36.75 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that Cardinal Health Inc will post 4.99 earnings per share for the current year.
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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