Barclays PLC Increases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Barclays PLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 707,404 shares of the company’s stock after acquiring an additional 53,851 shares during the quarter. Barclays PLC’s holdings in Cardinal Health were worth $78,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CAH. Charles Schwab Investment Management Inc. raised its stake in shares of Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after purchasing an additional 33,388 shares during the period. Alpha Cubed Investments LLC bought a new stake in shares of Cardinal Health during the third quarter valued at about $371,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Cardinal Health in the third quarter worth about $1,691,000. National Wealth Management Group LLC purchased a new position in Cardinal Health during the third quarter valued at approximately $903,000. Finally, Cerity Partners LLC increased its holdings in Cardinal Health by 35.9% during the 3rd quarter. Cerity Partners LLC now owns 32,964 shares of the company’s stock worth $3,643,000 after acquiring an additional 8,707 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group boosted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Morgan Stanley lifted their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Robert W. Baird lifted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $124.58.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $117.42 on Thursday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.23. The company has a fifty day moving average of $116.86 and a 200-day moving average of $108.14. The stock has a market capitalization of $28.42 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 1.53 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. On average, equities research analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.72%. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

About Cardinal Health

Cardinal Health, Inc operates as a 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.