California Public Employees Retirement System increased its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 38.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 756,101 shares of the company’s stock after buying an additional 209,515 shares during the period. California Public Employees Retirement System owned about 0.26% of Cardinal Health worth $35,680,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Cardinal Health by 5.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,205,388 shares of the company’s stock worth $198,074,000 after purchasing an additional 217,385 shares during the period. Zeke Capital Advisors LLC lifted its position in shares of Cardinal Health by 370.7% in the 3rd quarter. Zeke Capital Advisors LLC now owns 24,322 shares of the company’s stock worth $1,148,000 after purchasing an additional 19,155 shares during the period. ARP Americas LP lifted its position in shares of Cardinal Health by 197.2% in the 2nd quarter. ARP Americas LP now owns 62,399 shares of the company’s stock worth $2,939,000 after purchasing an additional 41,400 shares during the period. BBT Capital Management LLC acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $278,000. Finally, Marshall Wace LLP acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $6,399,000. Institutional investors and hedge funds own 90.17% of the company’s stock.
A number of research analysts have recently issued reports on CAH shares. ValuEngine upgraded shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Guggenheim set a $55.00 price target on shares of Cardinal Health and gave the stock a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley dropped their price target on shares of Cardinal Health from $50.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, September 6th. Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, Deutsche Bank initiated coverage on shares of Cardinal Health in a research report on Thursday, September 12th. They issued a “hold” rating and a $50.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.63.
NYSE:CAH opened at $51.43 on Thursday. The company has a fifty day moving average of $48.55 and a 200-day moving average of $46.32. The firm has a market capitalization of $15.13 billion, a P/E ratio of 9.80, a P/E/G ratio of 1.73 and a beta of 1.32. The company has a quick ratio of 0.54, a current ratio of 1.07 and a debt-to-equity ratio of 1.20. Cardinal Health Inc has a twelve month low of $41.03 and a twelve month high of $58.31.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.18. The company had revenue of $37.35 billion during the quarter, compared to analyst estimates of $36.70 billion. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. Cardinal Health’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. On average, analysts anticipate that Cardinal Health Inc will post 4.99 EPS for the current fiscal year.
Cardinal Health Profile
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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