MUFG Securities EMEA plc raised its holdings in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 50.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,800 shares of the company’s stock after purchasing an additional 69,300 shares during the period. Cardinal Health accounts for approximately 0.2% of MUFG Securities EMEA plc’s portfolio, making the stock its 20th largest holding. MUFG Securities EMEA plc owned approximately 0.08% of Cardinal Health worth $11,726,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Cardinal Health by 12.2% during the fourth quarter. State Street Corp now owns 21,345,022 shares of the company’s stock valued at $1,109,396,000 after buying an additional 2,327,008 shares during the period. Invesco Ltd. lifted its stake in shares of Cardinal Health by 29.6% during the fourth quarter. Invesco Ltd. now owns 5,674,226 shares of the company’s stock valued at $292,167,000 after buying an additional 1,295,582 shares during the period. Equity Investment Corp purchased a new position in shares of Cardinal Health during the first quarter valued at approximately $63,473,000. BlackRock Inc. lifted its stake in shares of Cardinal Health by 5.0% during the first quarter. BlackRock Inc. now owns 23,108,919 shares of the company’s stock valued at $1,310,275,000 after buying an additional 1,109,613 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of Cardinal Health by 66.5% during the first quarter. Allianz Asset Management GmbH now owns 2,400,330 shares of the company’s stock valued at $136,099,000 after buying an additional 958,515 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on CAH shares. UBS Group upped their price objective on shares of Cardinal Health from $61.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, August 29th. Evercore ISI increased their price target on shares of Cardinal Health to $75.00 in a research note on Monday, August 15th. Morgan Stanley increased their price target on shares of Cardinal Health from $70.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, August 22nd. Robert W. Baird increased their price target on shares of Cardinal Health from $57.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Finally, Credit Suisse Group increased their price target on shares of Cardinal Health from $56.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $70.20.
Cardinal Health Price Performance
Cardinal Health (NYSE:CAH – Get Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.12). The business had revenue of $47.10 billion during the quarter, compared to analyst estimates of $44.82 billion. Cardinal Health had a positive return on equity of 568.57% and a negative net margin of 0.51%. Cardinal Health’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. As a group, analysts predict that Cardinal Health, Inc. will post 5.27 EPS for the current year.
Cardinal Health Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be issued a dividend of $0.4957 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, September 30th. Cardinal Health’s payout ratio is 29.73%.
Cardinal Health Profile
Cardinal Health, Inc operates as an integrated 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.
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