Loomis Sayles & Co. L P Has $756,000 Stake in Cardinal Health, Inc. (NYSE:CAH)

Loomis Sayles & Co. L P increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 650.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,836 shares of the company’s stock after buying an additional 5,925 shares during the period. Loomis Sayles & Co. L P’s holdings in Cardinal Health were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Paragon Capital Management Inc. raised its position in shares of Cardinal Health by 0.7% in the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after buying an additional 99 shares in the last quarter. Midland Wealth Advisors LLC raised its position in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC raised its position in Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares in the last quarter. Finally, Huntington National Bank raised its position in Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after purchasing an additional 100 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Robert W. Baird boosted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Stock Up 0.1 %

Shares of Cardinal Health stock opened at $122.59 on Thursday. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $126.14. The stock has a market cap of $29.67 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.52 and a beta of 0.60. The company’s fifty day moving average is $114.29 and its 200 day moving average is $106.29.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Cardinal Health’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

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

Cardinal Health Company 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.