Voya Investment Management LLC Raises Holdings in Cardinal Health, Inc. (CAH)
Voya Investment Management LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 22.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,476 shares of the company’s stock after purchasing an additional 32,084 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Cardinal Health worth $13,595,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CAH. Bronfman E.L. Rothschild L.P. boosted its position in Cardinal Health by 31.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock worth $123,000 after purchasing an additional 382 shares during the period. JFS Wealth Advisors LLC boosted its position in Cardinal Health by 14.3% during the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock worth $152,000 after purchasing an additional 244 shares during the period. Dupont Capital Management Corp bought a new position in Cardinal Health during the second quarter worth about $164,000. First Personal Financial Services boosted its position in Cardinal Health by 127.5% during the second quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock worth $172,000 after purchasing an additional 1,238 shares during the period. Finally, Alpha Windward LLC boosted its position in Cardinal Health by 0.7% during the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock worth $179,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 87.98% of the company’s stock.
Cardinal Health, Inc. (CAH) opened at 67.52 on Thursday. The company has a market capitalization of $21.37 billion, a PE ratio of 16.75 and a beta of 0.86. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month high of $84.88. The firm’s 50-day moving average is $67.11 and its 200-day moving average is $73.59.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The business had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post $4.95 EPS for the current fiscal year.
The business also recently declared 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 annualized dividend and a yield of 2.74%. Cardinal Health’s payout ratio is presently 45.79%.
A number of equities analysts have weighed in on CAH shares. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Credit Suisse Group reiterated an “outperform” rating and set a $87.00 target price (up previously from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. BidaskClub lowered shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Vetr upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 target price for the company in a research report on Tuesday, June 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a research report on Sunday, September 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $76.81.
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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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