IFP Advisors Inc Increases Position in Cardinal Health, Inc. (CAH)
IFP Advisors Inc increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 4,821 shares of the company’s stock after buying an additional 305 shares during the period. IFP Advisors Inc’s holdings in Cardinal Health were worth $376,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. River Road Asset Management LLC raised its position in shares of Cardinal Health by 28.9% in the first quarter. River Road Asset Management LLC now owns 885,861 shares of the company’s stock valued at $72,242,000 after buying an additional 198,554 shares during the period. Morgan Stanley raised its position in shares of Cardinal Health by 24.6% in the first quarter. Morgan Stanley now owns 2,035,339 shares of the company’s stock valued at $165,981,000 after buying an additional 402,151 shares during the period. Palo Capital Inc. raised its position in shares of Cardinal Health by 2.5% in the first quarter. Palo Capital Inc. now owns 38,838 shares of the company’s stock valued at $3,167,000 after buying an additional 964 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Cardinal Health by 40.2% in the second quarter. Janney Montgomery Scott LLC now owns 49,607 shares of the company’s stock valued at $3,865,000 after buying an additional 14,228 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in shares of Cardinal Health during the first quarter valued at approximately $2,194,000. Hedge funds and other institutional investors own 86.41% of the company’s stock.
Shares of Cardinal Health, Inc. (NYSE:CAH) opened at 66.43 on Wednesday. The firm has a 50-day moving average of $74.93 and a 200-day moving average of $76.79. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88. The company has a market capitalization of $20.99 billion, a P/E ratio of 16.48 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.07. The business had revenue of $32.97 billion for the quarter, compared to the consensus estimate of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. Equities research analysts expect that Cardinal Health, Inc. will post $4.97 EPS for the current fiscal year.
The company also recently announced 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. The ex-dividend date is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.78%. Cardinal Health’s payout ratio is 45.79%.
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Several research analysts have recently commented on the stock. William Blair lowered shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. Jefferies Group LLC assumed coverage on shares of Cardinal Health in a research note on Wednesday, May 17th. They set a “hold” rating and a $77.00 price target on the stock. ValuEngine lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Vetr upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 price target on the stock in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $80.46.
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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