Cardinal Health, Inc. (CAH) Position Increased by Sun Life Financial INC
Sun Life Financial INC boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 16,228.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,286 shares of the company’s stock after buying an additional 2,272 shares during the quarter. Sun Life Financial INC’s holdings in Cardinal Health were worth $178,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Cardinal Health by 1.9% during the second quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock worth $1,842,205,000 after acquiring an additional 440,967 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Cardinal Health by 6.5% in the 2nd quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock worth $1,779,958,000 after purchasing an additional 1,398,496 shares during the last quarter. State Street Corp grew its holdings in shares of Cardinal Health by 1.1% in the 1st quarter. State Street Corp now owns 16,790,201 shares of the company’s stock worth $1,369,247,000 after purchasing an additional 176,331 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Cardinal Health by 72.1% in the 2nd quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock worth $489,613,000 after purchasing an additional 2,632,836 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Cardinal Health by 47.1% in the 1st quarter. FMR LLC now owns 5,915,289 shares of the company’s stock worth $482,391,000 after purchasing an additional 1,895,089 shares during the last quarter. 87.98% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on CAH shares. UBS AG restated a “neutral” rating and set a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Evercore ISI reiterated an “outperform” rating on shares of Cardinal Health in a research report on Tuesday, July 4th. Zacks Investment Research raised shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. Vetr raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 price objective on the stock in a report on Tuesday, June 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cardinal Health in a research report on Sunday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Cardinal Health has an average rating of “Hold” and a consensus target price of $76.81.
Cardinal Health, Inc. (NYSE CAH) traded down 0.60% on Tuesday, hitting $67.83. The stock had a trading volume of 205,605 shares. Cardinal Health, Inc. has a 52 week low of $62.70 and a 52 week high of $84.88. The company has a 50-day moving average price of $67.05 and a 200-day moving average price of $73.74. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 16.83 and a beta of 0.86.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm had revenue of $32.97 billion during the quarter, compared to the consensus estimate of $32.73 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Cardinal Health, Inc. will post $4.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 45.79%.
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About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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