Engineers Gate Manager LP Increases Stake in Cardinal Health, Inc. (CAH)
Engineers Gate Manager LP lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2,299.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,842 shares of the company’s stock after buying an additional 87,056 shares during the quarter. Cardinal Health comprises approximately 0.5% of Engineers Gate Manager LP’s investment portfolio, making the stock its 6th largest holding. Engineers Gate Manager LP’s holdings in Cardinal Health were worth $6,079,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. grew its position in shares of Cardinal Health by 31.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock worth $123,000 after buying an additional 382 shares during the period. Advisory Services Network LLC grew its position in shares of Cardinal Health by 18.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock worth $136,000 after buying an additional 270 shares during the period. Dupont Capital Management Corp acquired a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $164,000. First Personal Financial Services grew its position in shares of Cardinal Health by 127.5% during the 2nd quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock worth $172,000 after buying an additional 1,238 shares during the period. Finally, Sun Life Financial INC grew its position in shares of Cardinal Health by 16,228.6% during the 2nd quarter. Sun Life Financial INC now owns 2,286 shares of the company’s stock worth $178,000 after buying an additional 2,272 shares during the period. 88.47% of the stock is owned by institutional investors.
Cardinal Health, Inc. (NYSE CAH) opened at $61.02 on Tuesday. Cardinal Health, Inc. has a twelve month low of $54.66 and a twelve month high of $84.88. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52. The stock has a market capitalization of $19,230.00, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.70 and a beta of 0.85.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, December 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 53.94%.
Several brokerages have recently commented on CAH. UBS reaffirmed a “neutral” rating and set a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a research report on Wednesday, August 9th. Deutsche Bank began coverage on shares of Cardinal Health in a research report on Monday. They set a “hold” rating and a $64.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a report on Thursday, October 12th. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Finally, Jefferies Group cut their target price on Cardinal Health from $77.00 to $67.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $73.91.
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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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