Wealthfront Advisers LLC boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 23.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,493 shares of the company's stock after purchasing an additional 6,838 shares during the quarter. Wealthfront Advisers LLC's holdings in Cardinal Health were worth $1,855,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Swiss National Bank increased its holdings in shares of Cardinal Health by 10.6% in the 1st quarter. Swiss National Bank now owns 1,220,509 shares of the company's stock valued at $69,203,000 after acquiring an additional 116,600 shares during the last quarter. Mutual Advisors LLC increased its holdings in shares of Cardinal Health by 16.0% in the 1st quarter. Mutual Advisors LLC now owns 8,087 shares of the company's stock valued at $459,000 after acquiring an additional 1,114 shares during the last quarter. Hightower 6M Holding LLC bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $226,000. Herold Advisors Inc. bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $167,000. Finally, Financial Advisory Service Inc. bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $219,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
Get Cardinal Health alerts:Cardinal Health Trading Down 1.6 %
Shares of CAH stock opened at $66.68 on Monday. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.57 and a current ratio of 1.08. The firm has a market capitalization of $18.17 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.52 and a beta of 0.77. The stock has a fifty day moving average of $66.33 and a two-hundred day moving average of $59.91. Cardinal Health, Inc. has a 1 year low of $45.85 and a 1 year high of $72.28.
Cardinal Health (NYSE:CAH – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.12). The firm 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%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. As a group, research analysts expect that Cardinal Health, Inc. will post 5.25 EPS for the current year.Cardinal Health Dividend Announcement
The company also recently disclosed 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. The ex-dividend date is Friday, September 30th. This represents a $1.98 annualized dividend and a dividend yield of 2.97%. Cardinal Health's dividend payout ratio (DPR) is 29.73%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on CAH shares. Cowen boosted their price target on Cardinal Health from $59.00 to $72.00 and gave the company a "market perform" rating in a report on Tuesday, August 16th. Credit Suisse Group boosted their price target on Cardinal Health from $56.00 to $64.00 and gave the company a "neutral" rating in a report on Friday, August 12th. Robert W. Baird boosted their price objective on Cardinal Health from $57.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, August 12th. Barclays boosted their price objective on Cardinal Health to $67.00 in a research report on Monday, August 15th. Finally, Mizuho boosted their price objective on Cardinal Health from $58.00 to $66.00 in a research report on Friday, August 12th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $70.20.
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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