KBC Group NV increased its stake in shares of Cardinal Health Inc. (NYSE:CAH) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,649 shares of the company’s stock after buying an additional 3,476 shares during the period. KBC Group NV’s holdings in Cardinal Health were worth $11,550,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Engineers Gate Manager LP boosted its stake in Cardinal Health by 165.6% in the second quarter. Engineers Gate Manager LP now owns 67,927 shares of the company’s stock valued at $5,299,000 after buying an additional 42,355 shares during the period. Foster & Motley Inc. acquired a new stake in Cardinal Health during the second quarter valued at approximately $505,000. 1832 Asset Management L.P. boosted its stake in Cardinal Health by 57.3% in the second quarter. 1832 Asset Management L.P. now owns 427,017 shares of the company’s stock valued at $33,439,000 after buying an additional 155,512 shares during the period. Cincinnati Financial Corp boosted its stake in Cardinal Health by 79.0% in the second quarter. Cincinnati Financial Corp now owns 498,000 shares of the company’s stock valued at $38,849,000 after buying an additional 219,800 shares during the period. Finally, HealthInvest Partners AB acquired a new stake in Cardinal Health during the second quarter valued at approximately $12,482,000. Hedge funds and other institutional investors own 88.39% of the company’s stock.
Shares of Cardinal Health Inc. (NYSE:CAH) traded up 0.79% during mid-day trading on Friday, reaching $71.11. The company had a trading volume of 1,035,562 shares. The company has a market capitalization of $22.76 billion, a price-to-earnings ratio of 17.21 and a beta of 0.73. The stock has a 50 day moving average of $72.15 and a 200-day moving average of $77.64. Cardinal Health Inc. has a 52 week low of $62.70 and a 52 week high of $91.23.
Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, October 31st. The company reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. Cardinal Health had a return on equity of 25.20% and a net margin of 1.08%. The company had revenue of $32 billion for the quarter, compared to analyst estimates of $31.12 billion. During the same period in the prior year, the company posted $1.38 EPS. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, analysts expect that Cardinal Health Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Tuesday, January 3rd will be paid a dividend of $0.4489 per share. The ex-dividend date is Thursday, December 29th. This represents a $1.80 annualized dividend and a yield of 2.53%. Cardinal Health’s payout ratio is presently 43.58%.
Several research firms recently commented on CAH. Citigroup Inc. increased their price objective on Cardinal Health from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Deutsche Bank AG raised their target price on Cardinal Health from $83.00 to $89.00 and gave the stock a “hold” rating in a research report on Thursday, August 4th. Leerink Swann reissued a “buy” rating on shares of Cardinal Health in a research report on Wednesday, August 3rd. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $97.00 target price on shares of Cardinal Health in a research report on Tuesday, August 30th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $91.62.
In other Cardinal Health news, Chairman George S. Barrett sold 217,995 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $71.29, for a total transaction of $15,540,863.55. Following the sale, the chairman now owns 682,226 shares in the company, valued at approximately $48,635,891.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.94% of the company’s stock.
About Cardinal Health