Voloridge Investment Management LLC acquired a new position in shares of Cardinal Health Inc (NYSE:CAH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 61,503 shares of the company’s stock, valued at approximately $2,902,000.
Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its stake in Cardinal Health by 28.5% in the second quarter. Invesco Ltd. now owns 8,150,786 shares of the company’s stock valued at $383,901,000 after acquiring an additional 1,808,381 shares during the period. Nuveen Asset Management LLC raised its position in Cardinal Health by 236.2% in the second quarter. Nuveen Asset Management LLC now owns 2,044,496 shares of the company’s stock worth $96,296,000 after purchasing an additional 1,436,412 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Cardinal Health by 5.3% during the second quarter. Macquarie Group Ltd. now owns 14,736,537 shares of the company’s stock worth $694,090,000 after purchasing an additional 742,724 shares during the period. Point72 Asset Management L.P. lifted its stake in Cardinal Health by 12,324.4% during the third quarter. Point72 Asset Management L.P. now owns 683,344 shares of the company’s stock worth $32,247,000 after purchasing an additional 677,844 shares during the period. Finally, State Street Corp lifted its stake in Cardinal Health by 3.1% during the third quarter. State Street Corp now owns 21,778,838 shares of the company’s stock worth $1,038,087,000 after purchasing an additional 650,769 shares during the period. 89.00% of the stock is owned by institutional investors.
CAH has been the topic of several analyst reports. TheStreet lowered shares of Cardinal Health from a “c+” rating to a “d” rating in a report on Thursday, November 7th. Argus cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Morgan Stanley dropped their price objective on shares of Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, September 6th. Deutsche Bank began coverage on shares of Cardinal Health in a research note on Thursday, September 12th. They issued a “hold” rating and a $50.00 target price for the company. Finally, Zacks Investment Research raised Cardinal Health from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $50.60.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.18. Cardinal Health had a negative net margin of 2.81% and a positive return on equity of 32.25%. The business had revenue of $37.34 billion for the quarter, compared to analyst estimates of $36.75 billion. During the same period in the prior year, the business posted $1.29 earnings per share. Cardinal Health’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that Cardinal Health Inc will post 5.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.481 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Tuesday, December 31st. Cardinal Health’s dividend payout ratio is presently 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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