Vanguard Group Inc. Has $4.84 Billion Stock Position in Cardinal Health, Inc. $CAH

Vanguard Group Inc. grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,823,483 shares of the company’s stock after purchasing an additional 247,667 shares during the period. Vanguard Group Inc. owned about 12.97% of Cardinal Health worth $4,838,054,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CAH. Denali Advisors LLC increased its stake in Cardinal Health by 8.0% in the 3rd quarter. Denali Advisors LLC now owns 35,680 shares of the company’s stock valued at $5,600,000 after buying an additional 2,640 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Cardinal Health by 4.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 80,645 shares of the company’s stock valued at $12,658,000 after acquiring an additional 3,201 shares during the last quarter. Aberdeen Group plc raised its holdings in Cardinal Health by 1.4% during the third quarter. Aberdeen Group plc now owns 232,734 shares of the company’s stock worth $35,974,000 after acquiring an additional 3,274 shares in the last quarter. GF Fund Management CO. LTD. boosted its position in Cardinal Health by 11.8% during the third quarter. GF Fund Management CO. LTD. now owns 6,609 shares of the company’s stock valued at $1,037,000 after purchasing an additional 699 shares during the last quarter. Finally, Florida Financial Advisors LLC bought a new position in Cardinal Health in the third quarter valued at approximately $1,568,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CAH shares. Mizuho increased their price objective on Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their price target for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. Morgan Stanley set a $255.00 price objective on shares of Cardinal Health in a research report on Friday, February 6th. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Finally, Leerink Partners raised their target price on shares of Cardinal Health from $240.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $244.20.

Cardinal Health Stock Up 2.1%

Shares of NYSE:CAH opened at $225.41 on Wednesday. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $230.81. The business has a 50 day moving average of $209.83 and a 200-day moving average of $183.49. The stock has a market cap of $53.04 billion, a PE ratio of 32.43, a P/E/G ratio of 1.42 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The company had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 earnings per share. Equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 29.35%.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.