Retireful LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,875 shares of the company's stock, valued at approximately $760,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Commerce Bank raised its stake in Cardinal Health by 0.5% during the 3rd quarter. Commerce Bank now owns 29,137 shares of the company's stock valued at $3,220,000 after purchasing an additional 140 shares during the period. Prospera Private Wealth LLC bought a new stake in Cardinal Health during the 3rd quarter valued at approximately $77,000. PNC Financial Services Group Inc. raised its stake in Cardinal Health by 2.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 72,702 shares of the company's stock valued at $8,035,000 after purchasing an additional 1,528 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Cardinal Health in the 3rd quarter worth approximately $1,280,000. Finally, Fifth Third Wealth Advisors LLC increased its stake in Cardinal Health by 17.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,070 shares of the company's stock worth $450,000 after acquiring an additional 593 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an "underweight" rating in a report on Thursday, August 15th. StockNews.com cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 3rd. Evercore ISI boosted their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an "in-line" rating in a report on Thursday, August 15th. Morgan Stanley boosted their price objective on Cardinal Health from $119.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, UBS Group boosted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a "buy" rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and an average price target of $123.00.
Check Out Our Latest Stock Analysis on Cardinal Health
Cardinal Health Price Performance
CAH stock traded up $2.01 during mid-day trading on Wednesday, reaching $120.34. 1,708,039 shares of the company's stock were exchanged, compared to its average volume of 2,112,726. The stock's 50 day moving average is $113.51 and its 200 day moving average is $105.58. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14. The company has a market cap of $29.12 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60.
Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm 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 for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 earnings per share. On average, research analysts forecast that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.
Cardinal Health Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.68%. Cardinal Health's dividend payout ratio is currently 39.30%.
Cardinal Health Company Profile
(
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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