Wellington Management Group LLP Purchases 12,631 Shares of Cardinal Health, Inc. (NYSE:CAH)

Wellington Management Group LLP boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 107.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,348 shares of the company’s stock after acquiring an additional 12,631 shares during the quarter. Wellington Management Group LLP’s holdings in Cardinal Health were worth $2,454,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC grew its holdings in Cardinal Health by 1.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock worth $844,000 after purchasing an additional 97 shares during the period. Schechter Investment Advisors LLC increased its holdings in shares of Cardinal Health by 4.1% during the 4th quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock worth $250,000 after acquiring an additional 98 shares during the last quarter. J. W. Coons Advisors LLC raised its stake in Cardinal Health by 0.6% in the 4th quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock valued at $1,681,000 after acquiring an additional 100 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Cardinal Health by 8.5% during the 4th quarter. Allworth Financial LP now owns 1,818 shares of the company’s stock valued at $183,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Down 1.3 %

CAH stock opened at $98.32 on Monday. Cardinal Health, Inc. has a 52 week low of $85.11 and a 52 week high of $116.04. The business has a 50-day simple moving average of $99.88 and a 200 day simple moving average of $104.48. The company has a market cap of $23.95 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 1.11 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.74 EPS. On average, analysts anticipate that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.5056 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, July 1st. Cardinal Health’s dividend payout ratio is currently 88.89%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Argus reduced their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Evercore ISI increased their target price on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Robert W. Baird reduced their price target on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $109.67.

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.