Jacobs Levy Equity Management Inc. grew its stake in Cardinal Health Inc (NYSE:CAH) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 555,163 shares of the company’s stock after acquiring an additional 26,570 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Cardinal Health were worth $26,731,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in CAH. Cetera Advisor Networks LLC grew its stake in Cardinal Health by 2.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 7,566 shares of the company’s stock worth $336,000 after buying an additional 195 shares during the last quarter. Advisory Services Network LLC grew its stake in Cardinal Health by 15.1% during the 4th quarter. Advisory Services Network LLC now owns 1,497 shares of the company’s stock worth $67,000 after buying an additional 196 shares during the last quarter. Strategic Wealth Advisors Group LLC grew its stake in Cardinal Health by 1.1% during the 1st quarter. Strategic Wealth Advisors Group LLC now owns 19,131 shares of the company’s stock worth $938,000 after buying an additional 216 shares during the last quarter. First Hawaiian Bank grew its stake in Cardinal Health by 5.4% during the 1st quarter. First Hawaiian Bank now owns 4,317 shares of the company’s stock worth $208,000 after buying an additional 222 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in Cardinal Health by 9.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,610 shares of the company’s stock worth $126,000 after buying an additional 224 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.
Cardinal Health stock traded up $0.75 during trading hours on Thursday, hitting $44.97. 24,113 shares of the stock traded hands, compared to its average volume of 2,458,738. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.54 and a current ratio of 1.07. The company has a market cap of $13.31 billion, a PE ratio of 8.99, a PEG ratio of 1.41 and a beta of 1.20. Cardinal Health Inc has a 1 year low of $42.01 and a 1 year high of $58.31.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 9th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.16. The firm had revenue of $35.23 billion for the quarter, compared to analysts’ expectations of $35.09 billion. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.39 EPS. As a group, analysts predict that Cardinal Health Inc will post 5.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.4811 per share. This represents a $1.92 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s payout ratio is presently 38.20%.
CAH has been the topic of several research analyst reports. Wolfe Research initiated coverage on Cardinal Health in a research note on Tuesday, April 2nd. They set an “underperform” rating on the stock. ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 9th. Zacks Investment Research downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Guggenheim initiated coverage on Cardinal Health in a research note on Wednesday, April 17th. They set a “neutral” rating and a $51.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Cardinal Health has an average rating of “Hold” and a consensus target price of $56.20.
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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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