Geode Capital Management LLC Grows Position in Cardinal Health, Inc. (NYSE:CAH)

Geode Capital Management LLC raised its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,749,859 shares of the company's stock after buying an additional 42,082 shares during the quarter. Geode Capital Management LLC owned approximately 2.38% of Cardinal Health worth $633,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Sequoia Financial Advisors LLC boosted its stake in Cardinal Health by 16.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,492 shares of the company's stock worth $540,000 after purchasing an additional 787 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Cardinal Health by 9.4% during the second quarter. Assenagon Asset Management S.A. now owns 10,385 shares of the company's stock worth $1,021,000 after buying an additional 891 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in Cardinal Health in the 2nd quarter valued at about $105,000. Blue Trust Inc. increased its position in Cardinal Health by 41.5% in the 2nd quarter. Blue Trust Inc. now owns 3,400 shares of the company's stock valued at $334,000 after acquiring an additional 998 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Cardinal Health by 15.4% during the 2nd 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. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CAH. Evercore ISI boosted their target price on Cardinal Health from $105.00 to $115.00 and gave the company an "in-line" rating in a report on Thursday, August 15th. Argus boosted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Wells Fargo & Company upgraded shares of Cardinal Health from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $101.00 to $127.00 in a research report on Friday. Mizuho started 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. Finally, UBS Group increased their price target 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $126.75.

Cardinal Health Stock Up 0.5 %

NYSE CAH traded up $0.60 during mid-day trading on Friday, hitting $118.06. The stock had a trading volume of 1,413,636 shares, compared to its average volume of 2,100,808. The company has a 50 day simple moving average of $117.12 and a 200 day simple moving average of $108.35. The company has a market cap of $28.57 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.47 and a beta of 0.61. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.23.

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

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health's dividend payout ratio is presently 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.