IFM Investors Pty Ltd boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,573 shares of the company’s stock after buying an additional 5,181 shares during the period. IFM Investors Pty Ltd’s holdings in Cardinal Health were worth $2,527,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its holdings in Cardinal Health by 8.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 29,711 shares of the company’s stock worth $1,529,000 after buying an additional 2,342 shares during the period. Financial Advisory Service Inc. acquired a new position in shares of Cardinal Health in the 1st quarter valued at about $219,000. MBM Wealth Consultants LLC increased its holdings in shares of Cardinal Health by 95.4% in the 4th quarter. MBM Wealth Consultants LLC now owns 1,014 shares of the company’s stock valued at $52,000 after purchasing an additional 495 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Cardinal Health by 23.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,041 shares of the company’s stock valued at $59,000 after purchasing an additional 200 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of Cardinal Health in the 1st quarter valued at about $211,000. Institutional investors and hedge funds own 84.26% of the company’s stock.
Wall Street Analyst Weigh In
CAH has been the topic of a number of research reports. Barclays downgraded Cardinal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $70.00 to $64.00 in a report on Thursday, May 26th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and upped their target price for the company from $55.00 to $68.00 in a report on Wednesday, May 18th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Friday, May 6th. TheStreet downgraded Cardinal Health from a “c+” rating to a “d+” rating in a report on Thursday, May 5th. Finally, Morgan Stanley dropped their price objective on Cardinal Health from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Hold” and a consensus price target of $61.29.
Cardinal Health Trading Up 2.1 %
Cardinal Health (NYSE:CAH – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.09). The company had revenue of $44.84 billion for the quarter, compared to the consensus estimate of $43.20 billion. Cardinal Health had a positive return on equity of 155.24% and a negative net margin of 0.54%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 5.18 EPS for the current fiscal year.
Cardinal Health Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were given a dividend of $0.4957 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $1.98 dividend on an annualized basis and a yield of 3.22%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.49. Cardinal Health’s dividend payout ratio is presently 30.18%.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.
- Get a free copy of the StockNews.com research report on Cardinal Health (CAH)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Why Apple Could Be At All-Time Highs By Year End
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.