Commonwealth Bank of Australia Has $7.03 Million Stake in Cardinal Health, Inc. (CAH)
Commonwealth Bank of Australia lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,266 shares of the company’s stock after purchasing an additional 5,912 shares during the period. Commonwealth Bank of Australia’s holdings in Cardinal Health were worth $7,031,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Cardinal Health by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 23,201,310 shares of the company’s stock worth $1,892,067,000 after purchasing an additional 843,212 shares in the last quarter. BlackRock Inc. increased its stake in shares of Cardinal Health by 1,041.8% in the 1st quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock worth $1,748,835,000 after purchasing an additional 19,566,764 shares in the last quarter. State Street Corp increased its stake in shares of Cardinal Health by 1.1% in the 1st quarter. State Street Corp now owns 16,790,201 shares of the company’s stock worth $1,369,247,000 after purchasing an additional 176,331 shares in the last quarter. FMR LLC increased its stake in shares of Cardinal Health by 47.1% in the 1st quarter. FMR LLC now owns 5,915,289 shares of the company’s stock worth $482,391,000 after purchasing an additional 1,895,089 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Cardinal Health by 5.8% in the 1st quarter. Geode Capital Management LLC now owns 2,861,518 shares of the company’s stock worth $232,999,000 after purchasing an additional 156,915 shares in the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
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Cardinal Health, Inc. (NYSE:CAH) opened at 68.36 on Friday. The firm’s 50 day moving average is $69.50 and its 200 day moving average is $75.51. The company has a market cap of $21.63 billion, a P/E ratio of 16.96 and a beta of 0.85. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.88.
Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 earnings per share. Equities research analysts anticipate that Cardinal Health, Inc. will post $4.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.71%. Cardinal Health’s dividend payout ratio is currently 45.79%.
Several research firms have recently commented on CAH. Jefferies Group LLC set a $77.00 price objective on Cardinal Health and gave the stock a “hold” rating in a research note on Tuesday, August 29th. BidaskClub downgraded shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. UBS AG reaffirmed a “neutral” rating and issued a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $77.00 target price (down previously from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $80.46.
Cardinal Health Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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