MAI Capital Management increased its holdings in Cardinal Health Inc (NYSE:CAH) by 4.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,599 shares of the company’s stock after purchasing an additional 3,352 shares during the period. MAI Capital Management’s holdings in Cardinal Health were worth $4,082,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. LFA Lugano Financial Advisors SA purchased a new stake in shares of Cardinal Health in the 3rd quarter valued at $108,000. World Asset Management Inc raised its holdings in Cardinal Health by 4.2% during the 3rd quarter. World Asset Management Inc now owns 26,721 shares of the company’s stock valued at $1,443,000 after buying an additional 1,078 shares during the last quarter. NEXT Financial Group Inc bought a new stake in Cardinal Health during the 3rd quarter valued at $111,000. CX Institutional raised its holdings in Cardinal Health by 15.8% during the 3rd quarter. CX Institutional now owns 28,278 shares of the company’s stock valued at $1,527,000 after buying an additional 3,848 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV bought a new stake in Cardinal Health during the 3rd quarter valued at $203,000. 87.90% of the stock is owned by institutional investors.
NYSE:CAH opened at $51.63 on Friday. Cardinal Health Inc has a 52 week low of $48.14 and a 52 week high of $75.75. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.07 and a quick ratio of 0.53. The firm has a market cap of $16.19 billion, a P/E ratio of 10.33, a PEG ratio of 1.69 and a beta of 1.02.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Monday, August 6th. The company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. Cardinal Health had a net margin of 0.19% and a return on equity of 22.59%. The business had revenue of $35.35 billion during the quarter, compared to analyst estimates of $34.38 billion. During the same period in the prior year, the business earned $1.31 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect that Cardinal Health Inc will post 5.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a $0.4763 dividend. The ex-dividend date is Friday, September 28th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a yield of 3.69%. Cardinal Health’s dividend payout ratio is 38.20%.
In other Cardinal Health news, CEO Jon L. Giacomin sold 2,890 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $51.95, for a total value of $150,135.50. Following the completion of the transaction, the chief executive officer now directly owns 72,652 shares in the company, valued at approximately $3,774,271.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently commented on CAH shares. Argus lowered their price target on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, July 16th. Royal Bank of Canada reiterated a “hold” rating and set a $56.00 price target on shares of Cardinal Health in a report on Tuesday, August 7th. Robert W. Baird reiterated a “hold” rating and set a $51.00 price target on shares of Cardinal Health in a report on Friday, July 20th. Zacks Investment Research upgraded shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Finally, Mizuho reiterated a “hold” rating and set a $53.00 price target on shares of Cardinal Health in a report on Sunday, August 12th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $61.33.
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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