Hsbc Holdings PLC Purchases 50,456 Shares of Cardinal Health, Inc. (NYSE:CAH)

Hsbc Holdings PLC lifted its position in Cardinal Health, Inc. (NYSE:CAHFree Report) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 364,341 shares of the company’s stock after buying an additional 50,456 shares during the period. Hsbc Holdings PLC owned about 0.15% of Cardinal Health worth $36,730,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in shares of Cardinal Health by 8.0% during the 4th quarter. Intech Investment Management LLC now owns 266,087 shares of the company’s stock valued at $26,822,000 after buying an additional 19,753 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Cardinal Health by 2.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 42,123 shares of the company’s stock valued at $4,246,000 after purchasing an additional 940 shares during the last quarter. Sepio Capital LP bought a new position in shares of Cardinal Health in the 4th quarter worth approximately $222,000. Advisory Services Network LLC boosted its holdings in shares of Cardinal Health by 14.0% in the fourth quarter. Advisory Services Network LLC now owns 5,292 shares of the company’s stock worth $533,000 after buying an additional 651 shares during the last quarter. Finally, ProVise Management Group LLC purchased a new stake in Cardinal Health during the fourth quarter valued at approximately $215,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAH. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Wells Fargo & Company lowered their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Evercore ISI lifted their target price on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. UBS Group upped their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, SVB Leerink began coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.57.

Read Our Latest Stock Report on Cardinal Health

Cardinal Health Price Performance

Shares of NYSE CAH opened at $97.71 on Friday. The firm has a 50-day simple moving average of $103.50 and a two-hundred day simple moving average of $105.24. Cardinal Health, Inc. has a 1 year low of $80.90 and a 1 year high of $116.04. The company has a market cap of $23.80 billion, a P/E ratio of 43.43, a PEG ratio of 1.07 and a beta of 0.71.

Cardinal Health (NYSE:CAHGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.74 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.5056 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a yield of 2.07%. The ex-dividend date is Monday, July 1st. Cardinal Health’s dividend payout ratio is currently 88.89%.

Cardinal Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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