Dynamic Technology Lab Private Ltd Buys 2,610 Shares of Cardinal Health, Inc. (NYSE:CAH)

Dynamic Technology Lab Private Ltd raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 22.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,997 shares of the company’s stock after buying an additional 2,610 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Cardinal Health were worth $1,547,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Paragon Capital Management Inc. raised its position in shares of Cardinal Health by 0.7% in the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after purchasing an additional 99 shares during the last quarter. Midland Wealth Advisors LLC raised its holdings in Cardinal Health by 4.2% in the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after buying an additional 100 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of Cardinal Health by 5.1% in the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Cardinal Health by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after buying an additional 100 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after buying an additional 100 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company upped their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Barclays upped their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Morgan Stanley lifted their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Stock Performance

CAH stock opened at $121.77 on Tuesday. The company’s fifty day moving average price is $114.07 and its 200-day moving average price is $106.13. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The company has a market capitalization of $29.47 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 EPS. On average, research analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Cardinal Health Company 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.