Larson Financial Group LLC acquired a new position in shares of Cardinal Health Inc (NYSE:CAH) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 588 shares of the company’s stock, valued at approximately $28,000.
Other large investors have also recently modified their holdings of the company. First Trust Advisors LP increased its position in Cardinal Health by 321.3% during the 1st quarter. First Trust Advisors LP now owns 615,324 shares of the company’s stock worth $29,628,000 after purchasing an additional 469,283 shares in the last quarter. MML Investors Services LLC increased its position in Cardinal Health by 26.7% during the 1st quarter. MML Investors Services LLC now owns 19,253 shares of the company’s stock worth $927,000 after purchasing an additional 4,052 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Cardinal Health during the 1st quarter worth about $120,000. Amundi Pioneer Asset Management Inc. increased its position in Cardinal Health by 19.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 317,924 shares of the company’s stock worth $15,307,000 after purchasing an additional 52,482 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in Cardinal Health by 3,335.6% during the 1st quarter. Lazard Asset Management LLC now owns 384,479 shares of the company’s stock worth $18,511,000 after purchasing an additional 373,288 shares in the last quarter. Institutional investors own 90.20% of the company’s stock.
Several analysts have commented on the company. Guggenheim set a $55.00 price target on Cardinal Health and gave the company a “buy” rating in a report on Thursday, September 12th. Deutsche Bank assumed coverage on Cardinal Health in a report on Thursday, September 12th. They issued a “hold” rating and a $50.00 price target for the company. ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their price target on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, September 6th. Finally, Argus cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.63.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.93 by $0.18. The company had revenue of $37.35 billion during 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 revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. Equities research analysts anticipate that Cardinal Health Inc will post 4.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.4811 dividend. This represents a $1.92 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Monday, September 30th. Cardinal Health’s dividend payout ratio (DPR) is 36.36%.
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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