Moors & Cabot Inc. increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 115.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,751 shares of the company’s stock after purchasing an additional 8,445 shares during the period. Moors & Cabot Inc.’s holdings in Cardinal Health were worth $1,230,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. lifted its position in Cardinal Health by 31.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock worth $123,000 after acquiring an additional 382 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in Cardinal Health by 14.3% during the 2nd quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock worth $152,000 after acquiring an additional 244 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Cardinal Health during the 2nd quarter worth $164,000. First Personal Financial Services lifted its position in Cardinal Health by 127.5% during the 2nd quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock worth $172,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Sun Life Financial INC lifted its position in Cardinal Health by 16,228.6% during the 2nd quarter. Sun Life Financial INC now owns 2,286 shares of the company’s stock worth $178,000 after acquiring an additional 2,272 shares during the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.
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CAH has been the subject of a number of research analyst reports. BidaskClub lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. UBS AG reissued a “neutral” rating and set a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a research report on Wednesday, August 9th. Royal Bank Of Canada initiated coverage on shares of Cardinal Health in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $72.00 price objective for the company. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Credit Suisse Group cut their price objective on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $76.54.
Shares of Cardinal Health, Inc. (NYSE:CAH) traded up 0.39% during mid-day trading on Tuesday, reaching $64.88. 780,635 shares of the company’s stock traded hands. The stock has a market cap of $20.53 billion, a PE ratio of 16.10 and a beta of 0.86. The firm has a 50 day moving average price of $67.26 and a 200-day moving average price of $72.72. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month high of $84.88.
Cardinal Health (NYSE:CAH) last posted its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The company had revenue of $32.97 billion for the quarter, compared to the consensus estimate of $32.73 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts predict that Cardinal Health, Inc. will post $4.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd were given a $0.4624 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.86%. Cardinal Health’s dividend payout ratio is currently 45.79%.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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