Cardinal Health, Inc. (NYSE:CAH) Stake Increased by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 802.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,630 shares of the company’s stock after acquiring an additional 4,117 shares during the period. Benjamin Edwards Inc.’s holdings in Cardinal Health were worth $512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Eastern Bank bought a new stake in Cardinal Health during the third quarter valued at $25,000. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health during the 2nd quarter valued at about $27,000. Frazier Financial Advisors LLC raised its stake in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the second quarter valued at approximately $29,000. Finally, Hara Capital LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $31,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

NYSE CAH opened at $122.76 on Monday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.23. The company has a market capitalization of $29.71 billion, a P/E ratio of 23.88, a PEG ratio of 1.57 and a beta of 0.61. The company’s 50 day simple moving average is $116.29 and its 200 day simple moving average is $107.72.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. On average, analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

Analysts Set New Price Targets

CAH has been the subject of a number of analyst reports. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Barclays upped their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Evercore ISI increased their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.58.

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.