Sei Investments Co. raised its position in shares of Cardinal Health Inc. (NYSE:CAH) by 58.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 329,830 shares of the company’s stock after buying an additional 121,274 shares during the period. Sei Investments Co. owned 0.10% of Cardinal Health worth $25,628,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CAH. US Bancorp DE increased its position in Cardinal Health by 16.8% in the third quarter. US Bancorp DE now owns 716,905 shares of the company’s stock worth $55,701,000 after buying an additional 103,036 shares during the period. UBS Asset Management Americas Inc. increased its position in Cardinal Health by 20.2% in the third quarter. UBS Asset Management Americas Inc. now owns 1,370,584 shares of the company’s stock worth $106,495,000 after buying an additional 230,169 shares during the period. Girard Partners LTD. increased its position in Cardinal Health by 15.0% in the third quarter. Girard Partners LTD. now owns 27,932 shares of the company’s stock worth $2,170,000 after buying an additional 3,651 shares during the period. Teacher Retirement System of Texas increased its position in Cardinal Health by 5.9% in the third quarter. Teacher Retirement System of Texas now owns 998,030 shares of the company’s stock worth $77,547,000 after buying an additional 55,633 shares during the period. Finally, TIAA CREF Trust Co. FSB MO increased its position in Cardinal Health by 0.3% in the third quarter. TIAA CREF Trust Co. FSB MO now owns 31,623 shares of the company’s stock worth $2,457,000 after buying an additional 80 shares during the period. 84.54% of the stock is currently owned by institutional investors and hedge funds.
Cardinal Health Inc. (NYSE:CAH) traded up 0.22% during trading on Monday, hitting $71.27. 1,109,655 shares of the stock traded hands. The firm’s 50-day moving average is $71.88 and its 200-day moving average is $77.59. The stock has a market cap of $22.81 billion, a P/E ratio of 17.25 and a beta of 0.73. Cardinal Health Inc. has a 12 month low of $62.70 and a 12 month high of $91.23.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Monday, October 31st. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The company had revenue of $32 billion for the quarter, compared to analyst estimates of $31.12 billion. Cardinal Health had a net margin of 1.08% and a return on equity of 25.20%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. On average, analysts forecast that Cardinal Health Inc. will post $5.47 EPS for the current year.
The business 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 $0.4489 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.80 annualized dividend and a yield of 2.53%. Cardinal Health’s dividend payout ratio is currently 43.58%.
A number of analysts have recently weighed in on the stock. Barclays PLC set a $88.00 price target on shares of Cardinal Health and gave the company a “buy” rating in a report on Monday, November 14th. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Monday, November 14th. Leerink Swann restated an “outperform” rating and issued a $80.00 price target (down from $95.00) on shares of Cardinal Health in a report on Wednesday, November 2nd. Robert W. Baird cut shares of Cardinal Health from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $82.00 in a report on Friday, October 28th. Finally, Cleveland Research cut shares of Cardinal Health from a “buy” rating to a “neutral” rating in a report on Monday, October 10th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently 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 stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $71.29, for a total value of $15,540,863.55. Following the transaction, the chairman now directly owns 682,226 shares in the company, valued at $48,635,891.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.94% of the stock is currently owned by company insiders.
Cardinal Health Company Profile