Hexavest Inc. Has $61.24 Million Holdings in Cardinal Health Inc (CAH)
Hexavest Inc. boosted its stake in Cardinal Health Inc (NYSE:CAH) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 999,501 shares of the company’s stock after purchasing an additional 15,844 shares during the period. Hexavest Inc.’s holdings in Cardinal Health were worth $61,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. FDx Advisors Inc. increased its holdings in shares of Cardinal Health by 7.9% during the third quarter. FDx Advisors Inc. now owns 43,508 shares of the company’s stock valued at $2,912,000 after purchasing an additional 3,172 shares during the period. Private Advisor Group LLC increased its holdings in shares of Cardinal Health by 107.3% during the second quarter. Private Advisor Group LLC now owns 5,965 shares of the company’s stock valued at $457,000 after purchasing an additional 3,088 shares during the period. Cadence Capital Management LLC increased its holdings in shares of Cardinal Health by 8.4% during the third quarter. Cadence Capital Management LLC now owns 65,205 shares of the company’s stock valued at $4,364,000 after purchasing an additional 5,078 shares during the period. Commonwealth Equity Services Inc increased its holdings in shares of Cardinal Health by 7.4% during the third quarter. Commonwealth Equity Services Inc now owns 72,959 shares of the company’s stock valued at $4,882,000 after purchasing an additional 5,011 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of Cardinal Health by 4.6% during the third quarter. Teacher Retirement System of Texas now owns 824,347 shares of the company’s stock valued at $55,165,000 after purchasing an additional 36,534 shares during the period. 88.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on CAH. Evercore ISI began coverage on Cardinal Health in a report on Thursday, January 4th. They set an “in-line” rating and a $67.00 price target on the stock. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Cardinal Health in a report on Thursday, October 12th. Cowen raised Cardinal Health to a “buy” rating and set a $74.00 price target on the stock in a report on Tuesday, October 10th. Finally, Mizuho set a $70.00 price target on Cardinal Health and gave the company a “hold” rating in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $72.99.
Cardinal Health Inc (NYSE:CAH) traded up $1.05 during trading hours on Friday, reaching $69.11. The company had a trading volume of 2,566,000 shares, compared to its average volume of 3,232,950. The firm has a market capitalization of $22,010.00, a price-to-earnings ratio of 20.15, a P/E/G ratio of 1.84 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 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 released its earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $32.64 billion for the quarter, compared to analyst estimates of $33.48 billion. Cardinal Health had a return on equity of 6.84% and a net margin of 0.36%. Cardinal Health’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. equities analysts anticipate that Cardinal Health Inc will post 4.95 earnings per share for the current fiscal year.
The company also recently announced 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 2.68%. The ex-dividend date is Friday, December 29th. Cardinal Health’s payout ratio is currently 53.94%.
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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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