Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 232.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,790 shares of the company’s stock after acquiring an additional 7,549 shares during the period. Vinva Investment Management Ltd’s holdings in Cardinal Health were worth $1,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eastern Bank purchased a new stake in Cardinal Health during the 3rd quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new stake in Cardinal Health during the 2nd quarter valued at approximately $27,000. Frazier Financial Advisors LLC raised its stake in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health during the 2nd quarter valued at approximately $29,000. Finally, Hara Capital LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at approximately $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

NYSE CAH opened at $122.24 on Friday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14. The company has a market capitalization of $29.58 billion, a P/E ratio of 23.78, a PEG ratio of 1.53 and a beta of 0.60. The business has a 50 day moving average price of $114.75 and a 200 day moving average price of $106.52.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. On average, research analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Wall Street Analysts Forecast Growth

CAH has been the subject of several analyst reports. Morgan Stanley upped their price objective on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Argus increased their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. UBS Group increased their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Evercore ISI increased their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Profile

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.