Buckley Wealth Management LLC increased its stake in Cardinal Health Inc (NYSE:CAH) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,480 shares of the company’s stock after acquiring an additional 340 shares during the period. Buckley Wealth Management LLC’s holdings in Cardinal Health were worth $636,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank acquired a new position in Cardinal Health during the second quarter valued at approximately $106,911,000. Invesco Ltd. lifted its position in Cardinal Health by 28.5% during the second quarter. Invesco Ltd. now owns 8,150,786 shares of the company’s stock valued at $383,901,000 after buying an additional 1,808,381 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Cardinal Health by 236.2% during the second quarter. Nuveen Asset Management LLC now owns 2,044,496 shares of the company’s stock valued at $96,296,000 after buying an additional 1,436,412 shares in the last quarter. Macquarie Group Ltd. lifted its position in Cardinal Health by 5.3% during the second quarter. Macquarie Group Ltd. now owns 14,736,537 shares of the company’s stock valued at $694,090,000 after buying an additional 742,724 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Cardinal Health by 1.8% during the second quarter. Vanguard Group Inc. now owns 35,800,690 shares of the company’s stock valued at $1,686,212,000 after buying an additional 622,563 shares in the last quarter. 90.20% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on CAH. Guggenheim set a $55.00 price target on shares of Cardinal Health and gave the company a “buy” rating in a research report on Thursday, September 12th. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley reduced their price target on shares of Cardinal Health from $50.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, September 6th. Argus cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, Deutsche Bank began coverage on shares of Cardinal Health in a research report on Thursday, September 12th. They set a “hold” rating and a $50.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.63.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. The company had revenue of $37.35 billion for the quarter, compared to analyst estimates of $36.70 billion. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. On average, equities research analysts expect that Cardinal Health Inc will post 4.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.4811 per share. The ex-dividend date is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.10%. Cardinal Health’s dividend payout ratio is currently 36.36%.
Cardinal Health Company Profile
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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