Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Veritable L.P.

Veritable L.P. raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,150 shares of the company’s stock after purchasing an additional 119 shares during the quarter. Veritable L.P.’s holdings in Cardinal Health were worth $676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Arjuna Capital increased its stake in shares of Cardinal Health by 1.2% in the second quarter. Arjuna Capital now owns 16,437 shares of the company’s stock worth $1,554,000 after acquiring an additional 200 shares during the period. TD Asset Management Inc increased its stake in shares of Cardinal Health by 7.8% in the second quarter. TD Asset Management Inc now owns 288,924 shares of the company’s stock worth $27,324,000 after acquiring an additional 20,846 shares during the period. Cumberland Partners Ltd acquired a new stake in shares of Cardinal Health in the second quarter worth $602,000. Intech Investment Management LLC increased its stake in shares of Cardinal Health by 86.4% in the second quarter. Intech Investment Management LLC now owns 413,150 shares of the company’s stock worth $39,072,000 after acquiring an additional 191,544 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Cardinal Health by 1.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,403 shares of the company’s stock worth $4,199,000 after acquiring an additional 727 shares during the period. Institutional investors and hedge funds own 86.01% of the company’s stock.

Cardinal Health Stock Up 0.1 %

Shares of NYSE CAH opened at $103.39 on Friday. The firm has a 50-day simple moving average of $93.09 and a 200-day simple moving average of $90.40. The stock has a market capitalization of $25.48 billion, a price-to-earnings ratio of 169.49, a price-to-earnings-growth ratio of 0.97 and a beta of 0.76. Cardinal Health, Inc. has a 52 week low of $68.53 and a 52 week high of $105.50.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.33. Cardinal Health had a net margin of 0.07% and a negative return on equity of 60.27%. The firm had revenue of $54.76 billion during the quarter, compared to analysts’ expectations of $54.85 billion. During the same period last year, the business earned $1.20 earnings per share. Cardinal Health’s revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts expect that Cardinal Health, Inc. will post 6.9 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, December 29th. Cardinal Health’s payout ratio is currently 327.87%.

Insider Buying and Selling

In other Cardinal Health news, CEO Deborah Weitzman sold 6,712 shares of Cardinal Health stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $89.81, for a total transaction of $602,804.72. Following the completion of the sale, the chief executive officer now directly owns 44,202 shares in the company, valued at $3,969,781.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAH shares. Mizuho increased their price objective on shares of Cardinal Health from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 16th. Robert W. Baird increased their price target on shares of Cardinal Health from $107.00 to $108.00 and gave the stock an “outperform” rating in a report on Wednesday, August 16th. Morgan Stanley increased their price target on shares of Cardinal Health from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. TheStreet raised shares of Cardinal Health from a “c” rating to a “b-” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $101.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.83.

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.