Vinva Investment Management Ltd Boosts Stake in Cardinal Health, Inc. (NYSE:CAH)

Vinva Investment Management Ltd raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 232.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,790 shares of the company’s stock after purchasing an additional 7,549 shares during the quarter. Vinva Investment Management Ltd’s holdings in Cardinal Health were worth $1,185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Paragon Capital Management Inc. raised its position in 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 purchasing an additional 99 shares during the period. Midland Wealth Advisors LLC raised its holdings in shares of Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC raised its holdings in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after buying an additional 100 shares during the period. Finally, Huntington National Bank raised its holdings in shares of Cardinal Health by 0.9% in the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CAH shares. Wells Fargo & Company boosted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley boosted their target price on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Evercore ISI boosted their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Performance

NYSE:CAH opened at $122.24 on Friday. The stock has a 50-day simple moving average of $114.75 and a 200-day simple moving average of $106.52. The stock has a market cap of $29.58 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.53 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current 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 given a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.65%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

About Cardinal Health

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.