Miller Howard Investments Inc. NY lifted its stake in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,187,935 shares of the company's stock after purchasing an additional 12,814 shares during the period. Cardinal Health accounts for approximately 2.4% of Miller Howard Investments Inc. NY's holdings, making the stock its 10th largest holding. Miller Howard Investments Inc. NY's holdings in Cardinal Health were worth $62,093,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in CAH. CFS Investment Advisory Services LLC boosted its position in shares of Cardinal Health by 6,455.0% in the 1st quarter. CFS Investment Advisory Services LLC now owns 1,513,493 shares of the company's stock worth $27,000 after purchasing an additional 1,490,404 shares during the last quarter. Equity Investment Corp bought a new position in shares of Cardinal Health in the 1st quarter worth $63,473,000. BlackRock Inc. boosted its position in shares of Cardinal Health by 5.0% in the 1st quarter. BlackRock Inc. now owns 23,108,919 shares of the company's stock worth $1,310,275,000 after purchasing an additional 1,109,613 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Cardinal Health by 66.5% in the 1st quarter. Allianz Asset Management GmbH now owns 2,400,330 shares of the company's stock worth $136,099,000 after purchasing an additional 958,515 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Cardinal Health by 53.1% during the 1st quarter. Federated Hermes Inc. now owns 2,758,050 shares of the company's stock worth $156,381,000 after buying an additional 956,502 shares during the period. 85.07% of the stock is currently owned by institutional investors.
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Cardinal Health Price Performance
Shares of CAH traded up $0.11 during midday trading on Thursday, hitting $69.50. The stock had a trading volume of 39,514 shares, compared to its average volume of 3,199,839. The company has a 50 day simple moving average of $67.01 and a two-hundred day simple moving average of $60.14. The firm has a market cap of $18.21 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. Cardinal Health, Inc. has a twelve month low of $45.85 and a twelve month high of $72.28.
Cardinal Health (NYSE:CAH – Get Rating) last released its 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 analyst estimates of $44.82 billion. Cardinal Health had a negative net
margin of 0.51% and a positive return on equity of 568.57%. Cardinal Health's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. Analysts forecast that Cardinal Health, Inc. will post 5.23 EPS for the current fiscal year.
Cardinal Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be given a $0.4957 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, September 30th. Cardinal Health's dividend payout ratio is currently 29.73%.
Analyst Upgrades and Downgrades
Several analysts recently commented on CAH shares. Morgan Stanley raised their price objective on Cardinal Health from $70.00 to $76.00 and gave the stock an "overweight" rating in a research note on Monday, August 22nd. Mizuho raised their price objective on Cardinal Health from $58.00 to $66.00 in a research note on Friday, August 12th. UBS Group raised their price objective on Cardinal Health from $61.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, August 29th. Evercore ISI raised their price objective on Cardinal Health to $75.00 in a research note on Monday, August 15th. Finally, Credit Suisse Group raised their price objective on Cardinal Health from $56.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, August 12th. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $70.20.
About Cardinal Health
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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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