Wilmington Savings Fund Society FSB Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Wilmington Savings Fund Society FSB purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,659 shares of the company's stock, valued at approximately $846,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CAH. Assenagon Asset Management S.A. raised its position in Cardinal Health by 9.4% during the second quarter. Assenagon Asset Management S.A. now owns 10,385 shares of the company's stock valued at $1,021,000 after purchasing an additional 891 shares in the last quarter. Blue Trust Inc. boosted its stake in Cardinal Health by 41.5% in the second quarter. Blue Trust Inc. now owns 3,400 shares of the company's stock worth $334,000 after buying an additional 998 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Cardinal Health by 15.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 18,694 shares of the company's stock valued at $1,838,000 after acquiring an additional 2,488 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in Cardinal Health by 3.8% during the second quarter. SeaCrest Wealth Management LLC now owns 3,478 shares of the company's stock valued at $342,000 after acquiring an additional 127 shares during the last quarter. Finally, Summit Global Investments lifted its holdings in shares of Cardinal Health by 2.8% in the 2nd quarter. Summit Global Investments now owns 118,788 shares of the company's stock worth $11,679,000 after acquiring an additional 3,244 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. StockNews.com lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft raised their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st. Finally, Mizuho began coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an "outperform" rating and a $139.00 target price on the stock. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.75.

Cardinal Health Trading Down 1.3 %

NYSE CAH traded down $1.54 during trading on Monday, hitting $116.56. The company had a trading volume of 1,939,727 shares, compared to its average volume of 2,100,141. The company's fifty day moving average is $117.12 and its 200-day moving average is $108.53. The company has a market cap of $28.21 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.23.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to analysts' expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 earnings per share. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, January 2nd. Cardinal Health's payout ratio is currently 39.30%.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.