CWA Asset Management Group LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,052 shares of the company's stock after purchasing an additional 11,847 shares during the period. Cardinal Health accounts for approximately 0.8% of CWA Asset Management Group LLC's investment portfolio, making the stock its 28th biggest holding. CWA Asset Management Group LLC owned about 0.05% of Cardinal Health worth $15,263,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CAH. Point72 Asset Management L.P. purchased a new stake in Cardinal Health during the 2nd quarter worth approximately $90,440,000. State Street Corp grew its holdings in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company's stock valued at $1,566,913,000 after buying an additional 627,253 shares during the last quarter. Pacer Advisors Inc. raised its stake in Cardinal Health by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company's stock worth $403,022,000 after acquiring an additional 370,181 shares during the last quarter. Two Sigma Advisers LP lifted its position in Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company's stock worth $118,197,000 after acquiring an additional 346,362 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Cardinal Health by 230.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company's stock valued at $52,819,000 after purchasing an additional 333,095 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Argus upped their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. UBS Group raised their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Bank of America raised shares of Cardinal Health from a "neutral" rating to a "buy" rating and upped their price target for the company from $132.00 to $145.00 in a report on Monday. Finally, Mizuho assumed coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price objective for the company. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $128.85.
Read Our Latest Report on CAH
Cardinal Health Stock Performance
Shares of CAH stock traded up $0.18 on Monday, reaching $119.48. 2,777,674 shares of the company were exchanged, compared to its average volume of 1,991,158. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.23. The business has a 50-day moving average price of $118.98 and a 200 day moving average price of $110.56. The company has a market cap of $28.92 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 1.47 and a beta of 0.63.
Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during 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 business's revenue was down 4.3% compared to the same quarter last year. During the same quarter 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 earnings per share for the current year.
Cardinal Health Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health's payout ratio is 39.30%.
About Cardinal Health
(
Free Report)
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.
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