Rockland Trust Co. Raises Position in Cardinal Health Inc (NYSE:CAH)

Rockland Trust Co. raised its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 57.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,534 shares of the company’s stock after acquiring an additional 9,727 shares during the quarter. Rockland Trust Co.’s holdings in Cardinal Health were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Swedbank acquired a new stake in shares of Cardinal Health during the second quarter valued at about $106,911,000. Invesco Ltd. raised its stake in shares of Cardinal Health by 28.5% in the 2nd quarter. Invesco Ltd. now owns 8,150,786 shares of the company’s stock valued at $383,901,000 after acquiring an additional 1,808,381 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Cardinal Health by 236.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,044,496 shares of the company’s stock valued at $96,296,000 after acquiring an additional 1,436,412 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Cardinal Health by 5.3% in the 2nd quarter. Macquarie Group Ltd. now owns 14,736,537 shares of the company’s stock valued at $694,090,000 after acquiring an additional 742,724 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Cardinal Health by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 35,800,690 shares of the company’s stock valued at $1,686,212,000 after acquiring an additional 622,563 shares in the last quarter. Institutional investors and hedge funds own 90.20% of the company’s stock.

A number of research firms recently commented on CAH. Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Guggenheim set a $55.00 price objective on Cardinal Health and gave the company a “buy” rating in a report on Thursday, September 12th. Deutsche Bank began coverage on Cardinal Health in a report on Thursday, September 12th. They issued a “hold” rating and a $50.00 price objective for the company. Morgan Stanley dropped their price objective on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, September 6th. Finally, ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $53.63.

Shares of CAH stock opened at $46.92 on Friday. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 1.52 and a beta of 1.32. Cardinal Health Inc has a one year low of $41.03 and a one year high of $58.31. The company’s fifty day moving average price is $45.86 and its 200-day moving average price is $45.96. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.07 and a quick ratio of 0.54.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The company had revenue of $37.35 billion for the quarter, compared to the consensus estimate of $36.70 billion. During the same period in the previous year, the firm posted $1.01 EPS. Cardinal Health’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect that Cardinal Health Inc will post 4.99 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.4811 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a yield of 4.10%. Cardinal Health’s payout ratio is 36.36%.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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

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