Regent Investment Management LLC Increases Stake in Cardinal Health, Inc. (NYSE:CAH)

Regent Investment Management LLC lifted its stake in Cardinal Health, Inc. (NYSE:CAHGet Rating) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,120 shares of the company’s stock after purchasing an additional 300 shares during the period. Regent Investment Management LLC’s holdings in Cardinal Health were worth $1,261,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Cardinal Health by 5.0% during the first quarter. BlackRock Inc. now owns 23,108,919 shares of the company’s stock valued at $1,310,275,000 after buying an additional 1,109,613 shares during the last quarter. State Street Corp lifted its position in shares of Cardinal Health by 2.1% during the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after buying an additional 457,777 shares during the last quarter. Invesco Ltd. lifted its position in shares of Cardinal Health by 9.0% during the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after buying an additional 511,826 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cardinal Health by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,314,555 shares of the company’s stock valued at $273,086,000 after buying an additional 17,736 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Cardinal Health by 2.8% in the 1st quarter. ProShare Advisors LLC now owns 3,098,173 shares of the company’s stock valued at $175,667,000 after purchasing an additional 84,919 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CAH. Credit Suisse Group increased their price objective on shares of Cardinal Health from $56.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, August 12th. UBS Group increased their price objective on shares of Cardinal Health from $61.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, August 29th. Evercore ISI increased their price objective on shares of Cardinal Health to $75.00 in a research report on Monday, August 15th. Cowen raised their price target on shares of Cardinal Health from $59.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 16th. Finally, Cowen raised their price target on shares of Cardinal Health from $59.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 16th. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.20.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $1.96 during midday trading on Friday, reaching $65.31. 46,517 shares of the stock were exchanged, compared to its average volume of 2,827,425. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.51 and a beta of 0.77. Cardinal Health, Inc. has a twelve month low of $45.85 and a twelve month high of $72.28. The firm has a 50-day simple moving average of $64.98 and a two-hundred day simple moving average of $59.27. The company has a quick ratio of 0.57, a current ratio of 1.08 and a debt-to-equity ratio of 5.33.

Cardinal Health (NYSE:CAHGet Rating) last released its quarterly earnings results on Thursday, August 11th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.12). Cardinal Health had a negative net margin of 0.51% and a positive return on equity of 568.57%. The company had revenue of $47.10 billion during the quarter, compared to analyst estimates of $44.82 billion. During the same period in the prior year, the business posted $0.77 EPS. Cardinal Health’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Cardinal Health, Inc. will post 5.27 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be paid a $0.4957 dividend. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.98 dividend on an annualized basis and a yield of 3.04%. Cardinal Health’s dividend payout ratio is currently 29.73%.

Cardinal Health Company Profile

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Cardinal Health, Inc operates as an integrated 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.

See Also

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

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