Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its stake in Cardinal Health, Inc. (NYSE:CAHFree Report) by 113.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 186,016 shares of the company’s stock after purchasing an additional 98,738 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.08% of Cardinal Health worth $16,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. increased its position in Cardinal Health by 53.6% in the 1st quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock worth $1,452,000 after buying an additional 8,935 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Cardinal Health by 4.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,071 shares of the company’s stock worth $2,102,000 after buying an additional 1,702 shares during the period. Cibc World Market Inc. bought a new position in Cardinal Health in the 1st quarter worth approximately $212,000. Blair William & Co. IL increased its position in Cardinal Health by 6.7% in the 1st quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock worth $667,000 after buying an additional 734 shares during the period. Finally, Sei Investments Co. increased its position in Cardinal Health by 6.4% in the 1st quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock worth $26,792,000 after buying an additional 28,568 shares during the period. 86.01% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $104.95 on Friday. The stock has a market capitalization of $25.53 billion, a price-to-earnings ratio of 41.32, a price-to-earnings-growth ratio of 0.92 and a beta of 0.69. The business’s fifty day moving average price is $104.38 and its two-hundred day moving average price is $97.15. Cardinal Health, Inc. has a fifty-two week low of $68.53 and a fifty-two week high of $111.40.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. The company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.32 earnings per share. Research analysts expect that Cardinal Health, Inc. will post 7.3 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

Insiders Place Their Bets

In other Cardinal Health news, CEO Deborah Weitzman sold 36,642 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $106.31, for a total value of $3,895,411.02. Following the transaction, the chief executive officer now owns 35,202 shares of the company’s stock, valued at $3,742,324.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of several recent analyst reports. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $101.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, November 17th. Wells Fargo & Company began coverage on Cardinal Health in a research report on Thursday, December 14th. They set an “underweight” rating and a $96.00 price objective on the stock. Barclays began coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price objective on the stock. Finally, UBS Group boosted their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.38.

Read Our Latest Analysis on Cardinal Health

Cardinal Health Company Profile

(Free Report)

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.

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

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