Wesbanco Bank Inc. boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,905 shares of the company's stock after purchasing an additional 196 shares during the quarter. Wesbanco Bank Inc.'s holdings in Cardinal Health were worth $308,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Veriti Management LLC raised its stake in Cardinal Health by 12.1% during the second quarter. Veriti Management LLC now owns 8,737 shares of the company's stock valued at $457,000 after purchasing an additional 940 shares in the last quarter. Regent Investment Management LLC raised its stake in shares of Cardinal Health by 1.3% in the second quarter. Regent Investment Management LLC now owns 24,120 shares of the company's stock valued at $1,261,000 after acquiring an additional 300 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Cardinal Health by 5.2% in the second quarter. IFM Investors Pty Ltd now owns 46,880 shares of the company's stock valued at $2,450,000 after acquiring an additional 2,307 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Cardinal Health by 32.9% in the second quarter. Orion Portfolio Solutions LLC now owns 5,250 shares of the company's stock valued at $274,000 after acquiring an additional 1,299 shares during the period. Finally, Ferguson Wellman Capital Management Inc. raised its stake in shares of Cardinal Health by 22.9% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 8,500 shares of the company's stock valued at $444,000 after acquiring an additional 1,585 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.
Get Cardinal Health alerts:Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on CAH shares. Credit Suisse Group increased their target price on shares of Cardinal Health from $56.00 to $64.00 and gave the company a "neutral" rating in a research note on Friday, August 12th. Robert W. Baird increased their target price on shares of Cardinal Health from $57.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, August 12th. Evercore ISI upped their price target on shares of Cardinal Health to $75.00 in a report on Monday, August 15th. Cowen upped their price target on shares of Cardinal Health from $59.00 to $72.00 and gave the stock a "market perform" rating in a report on Tuesday, August 16th. Finally, Morgan Stanley upped their price target on shares of Cardinal Health from $70.00 to $76.00 and gave the stock an "overweight" rating in a report on Monday, August 22nd. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cardinal Health has a consensus rating of "Hold" and an average target price of $70.20.
Cardinal Health Stock Down 0.4 %
Shares of Cardinal Health stock opened at $65.77 on Tuesday. The company has a debt-to-equity ratio of 5.33, a current ratio of 1.08 and a quick ratio of 0.57. Cardinal Health, Inc. has a 1 year low of $45.85 and a 1 year high of $72.28. The firm's 50-day moving average is $65.42 and its two-hundred day moving average is $59.54. The stock has a market cap of $17.92 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.48 and a beta of 0.77.Cardinal Health (NYSE:CAH – Get Rating) last issued its earnings results 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 business had revenue of $47.10 billion for the quarter, compared to the consensus estimate of $44.82 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that Cardinal Health, Inc. will post 5.27 earnings per share for the current fiscal year.
Cardinal Health Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders 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 dividend yield of 3.01%. The ex-dividend date is Friday, September 30th. Cardinal Health's dividend payout ratio is currently 29.73%.
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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