LS Investment Advisors LLC purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 511 shares of the company's stock, valued at approximately $27,000.
Other hedge funds also recently modified their holdings of the company. Manchester Capital Management LLC boosted its position in shares of Cardinal Health by 60.4% in the first quarter. Manchester Capital Management LLC now owns 494 shares of the company's stock worth $28,000 after acquiring an additional 186 shares during the last quarter. AdvisorNet Financial Inc boosted its position in shares of Cardinal Health by 23.3% in the first quarter. AdvisorNet Financial Inc now owns 1,028 shares of the company's stock worth $58,000 after acquiring an additional 194 shares during the last quarter. Wesbanco Bank Inc. boosted its position in shares of Cardinal Health by 3.4% in the second quarter. Wesbanco Bank Inc. now owns 5,905 shares of the company's stock worth $308,000 after acquiring an additional 196 shares during the last quarter. KB Financial Partners LLC boosted its position in shares of Cardinal Health by 2.5% in the first quarter. KB Financial Partners LLC now owns 8,267 shares of the company's stock worth $469,000 after acquiring an additional 199 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Cardinal Health by 23.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,041 shares of the company's stock valued at $59,000 after buying an additional 200 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.
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Analyst Ratings Changes
Several research analysts recently commented on CAH shares. Credit Suisse Group raised their price target on shares of Cardinal Health from $56.00 to $64.00 and gave the company a "neutral" rating in a report on Friday, August 12th. Barclays lifted their price objective on shares of Cardinal Health to $67.00 in a research note on Monday, August 15th. StockNews.com upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 12th. Evercore ISI lifted their price objective on shares of Cardinal Health to $75.00 in a research note on Monday, August 15th. Finally, Mizuho lifted their price objective on shares of Cardinal Health from $58.00 to $66.00 in a research note on Friday, August 12th. Seven analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $70.20.
Cardinal Health Trading Down 0.6 %
Shares of NYSE:CAH opened at $69.39 on Thursday. The company has a fifty day simple moving average of $67.01 and a 200 day simple moving average of $60.14. The firm has a market cap of $18.18 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. Cardinal Health, Inc. has a 12-month low of $45.85 and a 12-month high of $72.28.
Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings results on Thursday, August 11th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.12). The company had revenue of $47.10 billion during the quarter, compared to the consensus estimate of $44.82 billion. Cardinal Health had a positive return on equity of 568.57% and a negative net margin of 0.51%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 5.23 EPS for the current fiscal year.
Cardinal Health Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be issued a $0.4957 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, September 30th. Cardinal Health's dividend payout ratio 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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