Marshall Wace LLP acquired a new stake in Cardinal Health Inc (NYSE:CAH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 28,274 shares of the company’s stock, valued at approximately $1,381,000.

Several other hedge funds also recently modified their holdings of the company. Hilltop Holdings Inc. acquired a new position in shares of Cardinal Health in the 2nd quarter valued at about $205,000. Macquarie Group Ltd. raised its holdings in Cardinal Health by 19.7% in the 2nd quarter. Macquarie Group Ltd. now owns 12,544,267 shares of the company’s stock worth $612,537,000 after purchasing an additional 2,067,829 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Cardinal Health by 1,413.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 104,304 shares of the company’s stock worth $5,093,000 after purchasing an additional 97,410 shares during the period. Morgan Stanley raised its holdings in Cardinal Health by 43.9% in the 2nd quarter. Morgan Stanley now owns 1,533,300 shares of the company’s stock worth $74,869,000 after purchasing an additional 467,818 shares during the period. Finally, Voya Investment Management LLC raised its holdings in Cardinal Health by 99.0% in the 2nd quarter. Voya Investment Management LLC now owns 325,338 shares of the company’s stock worth $15,887,000 after purchasing an additional 161,878 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

In other Cardinal Health news, CEO Jon L. Giacomin sold 2,890 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $51.95, for a total transaction of $150,135.50. Following the completion of the transaction, the chief executive officer now owns 72,652 shares of the company’s stock, valued at $3,774,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is owned by corporate insiders.

A number of equities analysts recently weighed in on the company. Robert W. Baird reduced their price target on Cardinal Health from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, August 7th. Morgan Stanley reduced their price target on Cardinal Health from $55.00 to $40.00 and set an “underweight” rating for the company in a report on Tuesday, July 3rd. Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Argus reduced their price target on Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, July 16th. Finally, Mizuho reaffirmed a “hold” rating and issued a $53.00 price target on shares of Cardinal Health in a report on Sunday, August 12th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $62.00.

Shares of Cardinal Health stock opened at $55.17 on Friday. Cardinal Health Inc has a 12 month low of $48.14 and a 12 month high of $75.75. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.68 and a beta of 1.04. The company has a quick ratio of 0.53, a current ratio of 1.07 and a debt-to-equity ratio of 1.32.

Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, August 6th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The business had revenue of $35.35 billion during the quarter, compared to analysts’ expectations of $34.38 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. equities research analysts anticipate that Cardinal Health Inc will post 5.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a dividend of $0.4763 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio is presently 38.20%.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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