Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Cardinal Health Inc (NYSE:CAH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,128 shares of the company’s stock, valued at approximately $478,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC acquired a new position in shares of Cardinal Health in the third quarter valued at about $28,000. Advantage Investment Management LLC acquired a new position in shares of Cardinal Health in the third quarter valued at about $31,000. Financial Gravity Wealth Inc. increased its holdings in shares of Cardinal Health by 258.5% in the second quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock valued at $33,000 after purchasing an additional 499 shares during the period. NuWave Investment Management LLC increased its holdings in shares of Cardinal Health by 358.1% in the third quarter. NuWave Investment Management LLC now owns 765 shares of the company’s stock valued at $35,000 after purchasing an additional 598 shares during the period. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Cardinal Health in the second quarter valued at about $36,000. Institutional investors own 90.17% of the company’s stock.
A number of research analysts have recently weighed in on the company. Guggenheim set a $55.00 price objective on Cardinal Health and gave the company a “buy” rating in a report on Thursday, September 12th. Morgan Stanley cut their price objective on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, September 6th. Deutsche Bank assumed coverage on Cardinal Health in a report on Thursday, September 12th. They issued a “hold” rating and a $50.00 price objective on the stock. Argus lowered Cardinal Health from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $53.13.
Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, November 7th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.09 by $0.18. The firm had revenue of $37.34 billion for the quarter, compared to analyst estimates of $36.75 billion. Cardinal Health had a positive return on equity of 32.25% and a negative net margin of 2.81%. Cardinal Health’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. As a group, equities analysts expect that Cardinal Health Inc will post 5.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.481 per share. This represents a $1.92 annualized dividend and a yield of 3.53%. The ex-dividend date is Tuesday, December 31st. Cardinal Health’s dividend payout ratio (DPR) is 36.36%.
Cardinal Health 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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