Exchange Traded Concepts LLC increased its position in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,888 shares of the company's stock after buying an additional 562 shares during the period. Exchange Traded Concepts LLC's holdings in Cardinal Health were worth $621,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL boosted its position in Cardinal Health by 6.4% during the fourth quarter. Blair William & Co. IL now owns 11,035 shares of the company's stock worth $568,000 after purchasing an additional 664 shares during the period. LPL Financial LLC boosted its position in Cardinal Health by 2.5% during the fourth quarter. LPL Financial LLC now owns 87,030 shares of the company's stock worth $4,481,000 after purchasing an additional 2,105 shares during the period. Alliancebernstein L.P. boosted its position in Cardinal Health by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 505,232 shares of the company's stock worth $26,014,000 after purchasing an additional 7,954 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Cardinal Health by 89.6% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,734 shares of the company's stock worth $707,000 after purchasing an additional 6,490 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its position in Cardinal Health by 2.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 220,300 shares of the company's stock worth $11,343,000 after purchasing an additional 5,500 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.
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Analysts Set New Price Targets
A number of equities research analysts have issued reports on CAH shares. Robert W. Baird upped their target price on Cardinal Health from $57.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, August 12th. Cowen increased their price objective on Cardinal Health from $59.00 to $72.00 and gave the company a "market perform" rating in a research report on Tuesday, August 16th. StockNews.com raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 12th. UBS Group increased their price objective on Cardinal Health from $61.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, August 29th. Finally, Cowen increased their price objective on Cardinal Health from $59.00 to $72.00 and gave the company a "market perform" rating in a research report on Tuesday, August 16th. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $70.20.
Cardinal Health Price Performance
Cardinal Health stock opened at $67.97 on Tuesday. The stock has a fifty day moving average price of $66.54 and a two-hundred day moving average price of $59.99. Cardinal Health, Inc. has a 52-week low of $45.85 and a 52-week high of $72.28. The firm has a market capitalization of $18.52 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.50 and a beta of 0.77.
Cardinal Health (NYSE:CAH – Get Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.12). Cardinal Health had a positive return on equity of 568.57% and a negative net margin of 0.51%. The company had revenue of $47.10 billion for the quarter, compared to analyst estimates of $44.82 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. The business's revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that Cardinal Health, Inc. will post 5.25 EPS for the current fiscal year.
Cardinal Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be paid a $0.4957 dividend. The ex-dividend date is Friday, September 30th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.92%. Cardinal Health's dividend payout ratio (DPR) is presently 29.73%.
Cardinal Health 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.
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