Cardinal Health, Inc. (CAH) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 138.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 146,353 shares of the company’s stock after purchasing an additional 85,049 shares during the period. Victory Capital Management Inc.’s holdings in Cardinal Health were worth $9,794,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Cardinal Health by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock worth $1,842,205,000 after purchasing an additional 440,967 shares during the last quarter. BlackRock Inc. grew its position in Cardinal Health by 6.5% during 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. Franklin Resources Inc. grew its position in Cardinal Health by 72.1% during 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. Ameriprise Financial Inc. grew its position in Cardinal Health by 71.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,557,123 shares of the company’s stock worth $277,191,000 after purchasing an additional 1,482,285 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Cardinal Health by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 2,039,620 shares of the company’s stock worth $158,935,000 after purchasing an additional 103,608 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.
Shares of Cardinal Health, Inc. (NYSE:CAH) opened at $57.07 on Wednesday. Cardinal Health, Inc. has a twelve month low of $56.69 and a twelve month high of $84.88. The stock has a market cap of $18,350.83, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.69 and a beta of 0.88. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.09. Cardinal Health had a net margin of 0.84% and a return on equity of 25.24%. The firm had revenue of $32.64 billion for the quarter, compared to the consensus estimate of $33.48 billion. During the same period in the prior year, the firm posted $1.24 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. analysts anticipate that Cardinal Health, Inc. will post 4.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, December 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 53.78%.
CAH has been the topic of several research analyst reports. Royal Bank Of Canada initiated coverage on shares of Cardinal Health in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $72.00 target price on the stock. BidaskClub downgraded shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. UBS AG reaffirmed a “neutral” rating and issued a $76.00 price objective (down from $79.00) on shares of Cardinal Health in a report on Wednesday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a report on Thursday, October 12th. Finally, Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $74.81.
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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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