Envestnet Asset Management Inc. Has $28.29 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Envestnet Asset Management Inc. lifted its stake in Cardinal Health, Inc. (NYSE:CAHGet Rating) by 11.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 498,988 shares of the company’s stock after acquiring an additional 51,173 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.18% of Cardinal Health worth $28,293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CAH. State Street Corp increased its position in shares of Cardinal Health by 12.2% in the fourth quarter. State Street Corp now owns 21,345,022 shares of the company’s stock valued at $1,109,396,000 after acquiring an additional 2,327,008 shares during the last quarter. Invesco Ltd. increased its position in shares of Cardinal Health by 29.6% in the fourth quarter. Invesco Ltd. now owns 5,674,226 shares of the company’s stock valued at $292,167,000 after acquiring an additional 1,295,582 shares during the last quarter. ProShare Advisors LLC increased its position in Cardinal Health by 24.4% during the fourth quarter. ProShare Advisors LLC now owns 3,013,254 shares of the company’s stock worth $155,154,000 after buying an additional 590,764 shares during the last quarter. Allianz Asset Management GmbH increased its position in Cardinal Health by 66.5% during the fourth quarter. Allianz Asset Management GmbH now owns 1,441,815 shares of the company’s stock worth $74,239,000 after buying an additional 576,095 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Cardinal Health during the fourth quarter worth approximately $20,797,000. Institutional investors and hedge funds own 84.26% of the company’s stock.

Cardinal Health Trading Up 1.3 %

Shares of NYSE:CAH opened at $60.32 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 5.33. The stock has a market cap of $16.43 billion, a PE ratio of 9.20, a P/E/G ratio of 8.12 and a beta of 0.86. The business has a 50 day moving average of $54.40 and a 200-day moving average of $55.38. Cardinal Health, Inc. has a 12-month low of $45.85 and a 12-month high of $64.53.

Cardinal Health (NYSE:CAHGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.09). The company had revenue of $44.84 billion during the quarter, compared to the consensus estimate of $43.20 billion. Cardinal Health had a negative net margin of 0.54% and a positive return on equity of 155.24%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 5.18 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were paid a $0.4957 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Thursday, June 30th. Cardinal Health’s payout ratio is 30.18%.

Analyst Ratings Changes

CAH has been the topic of a number of recent analyst reports. TheStreet downgraded Cardinal Health from a “c+” rating to a “d+” rating in a research report on Thursday, May 5th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $68.00 in a research report on Wednesday, May 18th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 6th. Barclays downgraded Cardinal Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $70.00 to $64.00 in a research report on Thursday, May 26th. Finally, Morgan Stanley reduced their price objective on Cardinal Health from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Cardinal Health currently has an average rating of “Hold” and a consensus target price of $60.11.

Cardinal Health Profile

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Cardinal Health, Inc operates as an integrated 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.

Further Reading

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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