Dimensional Fund Advisors LP Acquires 5,296 Shares of Cardinal Health, Inc. $CAH

Dimensional Fund Advisors LP increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,246,527 shares of the company’s stock after purchasing an additional 5,296 shares during the period. Dimensional Fund Advisors LP owned approximately 0.52% of Cardinal Health worth $195,629,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Cardinal Health by 0.8% in the third quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock valued at $4,838,054,000 after buying an additional 247,667 shares during the period. Geode Capital Management LLC grew its position in shares of Cardinal Health by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after buying an additional 205,539 shares during the period. Norges Bank bought a new stake in shares of Cardinal Health in the 2nd quarter valued at $584,420,000. Invesco Ltd. increased its stake in shares of Cardinal Health by 7.3% in the 2nd quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock valued at $510,347,000 after acquiring an additional 207,750 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Cardinal Health by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after acquiring an additional 45,812 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Up 0.9%

Shares of CAH stock opened at $217.89 on Monday. The firm has a market capitalization of $51.27 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The firm has a fifty day simple moving average of $215.65 and a two-hundred day simple moving average of $190.05. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $233.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The firm had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the firm earned $1.93 earnings per share. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is currently 29.35%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Mizuho increased their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. Zacks Research upgraded Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the company from $190.00 to $244.00 in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $245.67.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.