Vanguard Group Inc. Buys 247,667 Shares of Cardinal Health, Inc. $CAH

Vanguard Group Inc. increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,823,483 shares of the company’s stock after buying an additional 247,667 shares during the quarter. Vanguard Group Inc. owned about 0.13% of Cardinal Health worth $4,838,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. grew its holdings in shares of Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the period. Atlantic Edge Private Wealth Management LLC grew its stake in Cardinal Health by 75.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock worth $29,000 after buying an additional 75 shares in the last quarter. American Capital Advisory LLC grew its stake in Cardinal Health by 5,200.0% during the third quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after buying an additional 208 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC increased its holdings in Cardinal Health by 55.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 71 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE:CAH opened at $225.41 on Wednesday. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $230.81. The company has a market cap of $53.04 billion, a PE ratio of 32.43, a P/E/G ratio of 1.42 and a beta of 0.64. The firm’s 50 day simple moving average is $209.83 and its 200 day simple moving average is $183.49.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.32. The firm had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. Equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 0.9%. Cardinal Health’s payout ratio is presently 29.35%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Morgan Stanley set a $255.00 target price on Cardinal Health in a research note on Friday, February 6th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Jefferies Financial Group upped their price objective on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $244.00 in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.20.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.