Toronto Dominion Bank Acquires 1,375 Shares of Cardinal Health, Inc. (NYSE:CAH)

Toronto Dominion Bank raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,588 shares of the company’s stock after buying an additional 1,375 shares during the period. Toronto Dominion Bank’s holdings in Cardinal Health were worth $15,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mather Group LLC. lifted its position in Cardinal Health by 2.5% during the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after acquiring an additional 164 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Cardinal Health by 86.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock valued at $6,998,000 after purchasing an additional 32,250 shares during the period. Pinebridge Investments L.P. boosted its stake in Cardinal Health by 237.7% during the 4th quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock valued at $17,290,000 after purchasing an additional 120,740 shares during the period. Tobam increased its position in Cardinal Health by 773.4% in the 1st quarter. Tobam now owns 49,111 shares of the company’s stock worth $5,496,000 after buying an additional 43,488 shares during the period. Finally, Nomura Holdings Inc. lifted its holdings in shares of Cardinal Health by 12.3% during the fourth quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock worth $22,243,000 after buying an additional 24,222 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of Cardinal Health stock traded up $1.46 during trading on Friday, hitting $98.37. 1,383,461 shares of the company were exchanged, compared to its average volume of 2,157,154. The firm has a market capitalization of $23.96 billion, a P/E ratio of 43.72, a price-to-earnings-growth ratio of 1.07 and a beta of 0.61. The firm’s fifty day moving average price is $98.02 and its 200 day moving average price is $103.59. Cardinal Health, Inc. has a 1-year low of $85.11 and a 1-year high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.74 EPS. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a $0.5056 dividend. The ex-dividend date of this dividend was Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. Cardinal Health’s payout ratio is currently 89.78%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CAH shares. Wells Fargo & Company reduced their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Robert W. Baird lifted their price objective on Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Argus decreased their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Evercore ISI dropped their price objective on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research note on Tuesday, July 9th. Finally, Citigroup decreased their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Cardinal Health Profile

Cardinal Health, Inc operates as a 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.