Putnam Investments LLC Boosts Stake in Cardinal Health Inc (NYSE:CAH)

Putnam Investments LLC grew its position in shares of Cardinal Health Inc (NYSE:CAH) by 1.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 371,740 shares of the company’s stock after acquiring an additional 5,709 shares during the period. Putnam Investments LLC owned about 0.12% of Cardinal Health worth $17,509,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bremer Bank National Association purchased a new position in shares of Cardinal Health during the 1st quarter worth approximately $27,000. Financial Gravity Wealth Inc. grew its holdings in shares of Cardinal Health by 258.5% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock worth $33,000 after acquiring an additional 499 shares during the period. SRS Capital Advisors Inc. purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $36,000. Trustcore Financial Services LLC grew its holdings in shares of Cardinal Health by 80.6% during the 2nd quarter. Trustcore Financial Services LLC now owns 784 shares of the company’s stock worth $37,000 after acquiring an additional 350 shares during the period. Finally, AGF Investments LLC purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

A number of brokerages have recently commented on CAH. Argus cut Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Morgan Stanley dropped their price target on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, September 6th. Deutsche Bank began coverage on Cardinal Health in a research report on Thursday, September 12th. They issued a “hold” rating and a $50.00 price target on the stock. Finally, Guggenheim set a $55.00 price target on Cardinal Health and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Cardinal Health has a consensus rating of “Hold” and a consensus price target of $53.63.

Shares of CAH traded up $0.02 during mid-day trading on Friday, reaching $48.04. The company had a trading volume of 86,969 shares, compared to its average volume of 2,692,940. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 1.60 and a beta of 1.29. Cardinal Health Inc has a 52 week low of $41.03 and a 52 week high of $58.31. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 1.07. The firm has a 50-day moving average price of $44.75 and a 200 day moving average price of $46.28.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.18. The business had revenue of $37.35 billion for the quarter, compared to analysts’ expectations of $36.70 billion. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. As a group, research analysts forecast that Cardinal Health Inc will post 4.99 earnings per share for the current fiscal year.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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