UBS Asset Management Americas Inc. increased its position in shares of Cardinal Health Inc. (NYSE:CAH) by 20.2% during the third quarter, Holdings Channel reports. The firm owned 1,370,584 shares of the company’s stock after buying an additional 230,169 shares during the period. UBS Asset Management Americas Inc. owned about 0.43% of Cardinal Health worth $106,495,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in CAH. Cohen & Steers Inc. increased its stake in Cardinal Health by 36,541.4% in the second quarter. Cohen & Steers Inc. now owns 37,044,411 shares of the company’s stock worth $980,195,000 after buying an additional 36,943,311 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Cardinal Health by 114.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 12,520,106 shares of the company’s stock worth $976,694,000 after buying an additional 6,681,725 shares during the period. Jarislowsky Fraser Ltd boosted its position in shares of Cardinal Health by 1,496.1% in the second quarter. Jarislowsky Fraser Ltd now owns 2,410,480 shares of the company’s stock worth $199,925,000 after buying an additional 2,259,453 shares during the period. LSV Asset Management boosted its position in shares of Cardinal Health by 89.5% in the second quarter. LSV Asset Management now owns 3,127,790 shares of the company’s stock worth $243,998,000 after buying an additional 1,476,990 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Cardinal Health by 517.4% in the third quarter. Victory Capital Management Inc. now owns 1,723,529 shares of the company’s stock worth $133,918,000 after buying an additional 1,444,376 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 0.45% during mid-day trading on Monday, reaching $71.43. 1,128,529 shares of the company 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 capitalization of $22.86 billion, a PE ratio of 17.29 and a beta of 0.73. Cardinal Health Inc. has a 52-week low of $62.70 and a 52-week high of $91.23.
Cardinal Health (NYSE:CAH) last posted 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. Cardinal Health had a net margin of 1.08% and a return on equity of 25.20%. The firm had revenue of $32 billion for the quarter, compared to analyst estimates of $31.12 billion. During the same quarter last year, the firm posted $1.38 earnings per share. Cardinal Health’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts expect that Cardinal Health Inc. will post $5.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Tuesday, January 3rd will be given a dividend of $0.4489 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, December 29th. Cardinal Health’s payout ratio is currently 43.58%.
A number of research analysts recently weighed in on the stock. Barclays PLC set a $88.00 price objective 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 objective (down previously 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 dropped their price objective 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 analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Cardinal Health presently has an average rating of “Buy” and an average price target of $91.62.
In other news, Chairman George S. Barrett sold 217,995 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $71.29, for a total transaction of $15,540,863.55. Following the completion of the sale, the chairman now owns 682,226 shares of the company’s stock, valued at $48,635,891.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.94% of the company’s stock.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.