Brookstone Capital Management raised its stake in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,727 shares of the company’s stock after buying an additional 652 shares during the period. Brookstone Capital Management’s holdings in Cardinal Health were worth $779,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC raised its position in Cardinal Health by 60.4% in the first quarter. Manchester Capital Management LLC now owns 494 shares of the company’s stock valued at $28,000 after purchasing an additional 186 shares during the last quarter. Landmark Wealth Management LLC bought a new position in Cardinal Health in the 1st quarter valued at approximately $62,000. Cornerstone Advisory LLC acquired a new stake in Cardinal Health during the 4th quarter worth approximately $35,000. Signaturefd LLC grew its holdings in Cardinal Health by 26.8% during the 1st quarter. Signaturefd LLC now owns 955 shares of the company’s stock worth $54,000 after acquiring an additional 202 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Cardinal Health by 300.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 957 shares of the company’s stock valued at $54,000 after acquiring an additional 718 shares during the period. Institutional investors own 85.07% of the company’s stock.
Analyst Upgrades and Downgrades
CAH has been the topic of several analyst reports. Cowen boosted their price objective on shares of Cardinal Health from $59.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 16th. Cowen raised their price objective on Cardinal Health from $59.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 16th. Credit Suisse Group lifted their price objective on Cardinal Health from $56.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Barclays raised their price target on shares of Cardinal Health to $67.00 in a report on Monday, August 15th. Finally, Evercore ISI upped their price objective on shares of Cardinal Health to $75.00 in a research note on Monday, August 15th. Seven equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.20.
Cardinal Health Price Performance
Cardinal Health (NYSE:CAH – Get Rating) last posted its quarterly earnings results on Thursday, August 11th. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.12). Cardinal Health had a positive return on equity of 568.57% and a negative net margin of 0.51%. The firm had revenue of $47.10 billion for the quarter, compared to analyst estimates of $44.82 billion. During the same period last year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Cardinal Health, Inc. will post 5.27 earnings per share for the current fiscal year.
Cardinal Health Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.4957 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.98 annualized dividend and a yield of 2.95%. 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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