Barclays PLC Has $248.66 Million Stock Holdings in Cardinal Health, Inc. $CAH

Barclays PLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 109.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,584,214 shares of the company’s stock after purchasing an additional 827,446 shares during the quarter. Barclays PLC’s holdings in Cardinal Health were worth $248,658,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Cardinal Health by 0.8% during the third quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock worth $4,838,054,000 after buying an additional 247,667 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cardinal Health by 3.3% in the second quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock valued at $1,069,005,000 after buying an additional 205,539 shares during the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health in the second quarter valued at approximately $584,420,000. Invesco Ltd. increased its holdings in shares of Cardinal Health by 7.3% during the 2nd quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock worth $510,347,000 after acquiring an additional 207,750 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Cardinal Health by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after acquiring an additional 45,812 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.9%

CAH opened at $217.89 on Friday. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $233.60. The stock has a market capitalization of $51.27 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 1.39 and a beta of 0.65. The company has a 50-day simple moving average of $215.65 and a 200 day simple moving average of $189.50.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The firm had revenue of $65.63 billion during the quarter, compared to analysts’ expectations of $64.88 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.5107 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 29.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Leerink Partners lifted their price objective on shares of Cardinal Health from $268.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. TD Cowen raised their target price on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $190.00 to $244.00 in a report on Friday, January 9th. Finally, Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $245.67.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.