Cardinal Health, Inc. (CAH) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,993 shares of the company’s stock after purchasing an additional 5,500 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Cardinal Health were worth $5,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpha Windward LLC boosted its position in Cardinal Health by 0.7% during the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock worth $179,000 after acquiring an additional 17 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in Cardinal Health by 0.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,321 shares of the company’s stock worth $353,000 after acquiring an additional 39 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in Cardinal Health by 0.5% during the second quarter. Wetherby Asset Management Inc. now owns 8,392 shares of the company’s stock worth $654,000 after acquiring an additional 44 shares during the last quarter. Bessemer Group Inc. boosted its position in Cardinal Health by 1.2% during the second quarter. Bessemer Group Inc. now owns 4,238 shares of the company’s stock worth $330,000 after acquiring an additional 51 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Cardinal Health by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,468 shares of the company’s stock worth $1,829,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 87.98% of the company’s stock.

A number of equities analysts have commented on CAH shares. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Credit Suisse Group reaffirmed an “outperform” rating and set a $87.00 target price (up from $81.00) on shares of Cardinal Health in a research note on Thursday, July 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a research note on Sunday, September 10th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.54.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Cardinal Health’s revenue for the quarter was up 5.0% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be issued a $0.4624 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 annualized dividend and a yield of 2.79%. Cardinal Health’s payout ratio is 45.79%.

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About Cardinal Health

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.

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

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