Cardinal Health, Inc. (CAH) Shares Bought by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 17.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,412 shares of the company’s stock after purchasing an additional 8,805 shares during the period. Janney Montgomery Scott LLC’s holdings in Cardinal Health were worth $3,909,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAH. Cubist Systematic Strategies LLC lifted its position in shares of Cardinal Health by 70.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 26,654 shares of the company’s stock valued at $1,784,000 after acquiring an additional 11,051 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Cardinal Health by 38.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,858 shares of the company’s stock valued at $58,947,000 after acquiring an additional 246,713 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Cardinal Health by 77.8% during the 3rd quarter. Janus Henderson Group PLC now owns 108,930 shares of the company’s stock valued at $7,291,000 after acquiring an additional 47,669 shares during the last quarter. Chevy Chase Trust Holdings Inc. lifted its position in shares of Cardinal Health by 0.7% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 276,145 shares of the company’s stock valued at $18,480,000 after acquiring an additional 1,977 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Cardinal Health by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 51,240 shares of the company’s stock valued at $3,429,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 88.47% of the company’s stock.
CAH has been the subject of a number of recent research reports. Morgan Stanley downgraded Cardinal Health from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 20th. Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Mizuho set a $70.00 price objective on Cardinal Health and gave the company a “hold” rating in a research report on Tuesday, October 24th. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a research report on Sunday, September 10th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $73.91.
Shares of Cardinal Health, Inc. (NYSE:CAH) opened at $60.35 on Friday. The stock has a market capitalization of $19,055.54, a price-to-earnings ratio of 11.49, a PEG ratio of 1.76 and a beta of 0.85. Cardinal Health, Inc. has a 1-year low of $54.66 and a 1-year high of $84.88. The company has a quick ratio of 0.52, a current ratio of 1.06 and a debt-to-equity ratio of 1.35.
Cardinal Health (NYSE:CAH) last released its earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. The company had revenue of $32.64 billion during the quarter, compared to analyst estimates of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. sell-side analysts expect that Cardinal Health, Inc. will post 4.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be issued a $0.4624 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.06%. Cardinal Health’s payout ratio is currently 53.78%.
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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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