During the third quarter, Assenagon Asset Management S.A. increased its holdings in Cardinal Health, Inc. (NYSE: CAH), as stated in the most recent filing the company has made with the Securities and Exchange Commission. The institutional investor now has a total of 9,588 shares in their possession after making additional purchases of 5,701 shares of the company during the period in question. Assenagon Asset Management S.A. has estimated that Cardinal Health is worth $639,000, as stated in the most recent report that the company has submitted to the SEC.
In recent months, several additional large investors have changed the interests they already hold in the company, and various investors have made these changes. L.S. Investment Advisors LLC made a new investment in Cardinal Health during the second quarter of the fiscal year. This investment was somewhere in the neighborhood of $27,000. During the second quarter, CX Institutional made a new investment of approximately $33,000 in Cardinal Health, opening a new stake in the company. Retirement Group LLC has increased its ownership of Cardinal Health by a factor of 1,000, which is equivalent to a 1000% increase during the second quarter. After purchasing an additional 431 shares during the period in question, Retirement Group LLC now has 862 shares of the company’s stock worth $45,000. These shares were acquired during the period in question. During the third quarter, Massmutual Trust Co. FSB ADV saw a 102.8% increase in the value of its holdings in Cardinal Health. Massmutual Trust Co. FSB ADV now has 716 shares of the company’s stock, which are worth a combined total of $48,000 after purchasing an additional 363 shares during the period in question.
Last but not least, FinTrust Capital Advisors LLC increased the percentage of Cardinal Health stock owned by 195.0% during the second quarter. This certainly should not be considered the least important development. Following the acquisition of a further 585 shares throughout the period above, FinTrust Capital Advisors LLC now holds a total of 885 shares of the company’s stock, each of which carries a value of $50,000. Hedge funds and other institutional investors own a total of 88.93% of the outstanding shares of stock.
The CAH has been the subject of several reports compiled by researchers with extensive expertise in the field. In a research note distributed on November 22, 2018, by Credit Suisse Group, it was stated that the target price for Cardinal Health had increased. The price target for the stock has been raised from $64.00 to $79.00, and the rating on the stock has been changed to “neutral.” In a research report published on Friday, November 4, Bank of America raised their price objective on Cardinal Health from $64.00 to $80.00 and upgraded the company from “underperform” to “neutral.” Morgan Stanley raised their price target for the company from $82.00 to $86.00 and gave the stock an “overweight” rating in a research note about Cardinal Health published on Friday, January 6. In a research note distributed on Tuesday, December 27, the recommendation for Cardinal Health was changed from “buy” to “strong-buy,” indicating a more positive outlook. Mizuho increased their price target on Cardinal Health from $60.00 to $70.00 and rated the company as “neutral” in a research note published on Monday, November 14. This was the company’s final action, but by no means its the least important one. There have been nine equity research analysts who have recommended holding onto the stock, three different analysts who rated the stock as a buy, and one analyst who strongly recommended buying the stock. According to the data made available by Bloomberg, the current recommendation for Cardinal Health is “Hold,” and analysts anticipate that the company’s share price will reach an average of $76.82.
On November 7, a corporate insider named Ola M. Snow sold 19,590 shares of the company’s stock. This is another piece of news that is relevant to this topic. The sale of the shares resulted in total revenue of $1,545,063.30, with an average price of $78.87 for each purchased share. As a consequence of the transaction being successfully finalized, the company insider now directly owns 31,187 shares of the company’s stock, which are worth $2,459,718.69. If you follow this link, you will be taken to the SEC filing in which the sale was disclosed. Please click on the link to proceed. Business insiders possess the total number of shares of stock held by the company to the extent of 0.17%.
When trading started on Tuesday, a share of Cardinal Health was priced at $76.87. The stock’s moving average over the past 50 days is currently at $78.28, while its moving average over the past 200 days is currently at $70.24. Given that the company has a market value of $20.15 billion, a P.E. ratio of 12.56, a price-to-earnings-growth ratio of 1.25, and a beta value of 0.81, it represents an attractive investment opportunity. In addition to that, the price-to-earnings growth ratio currently stands at 1.25. During the past year, the share price of Cardinal Health, Inc. has fluctuated between $49.09 and $81.57, reaching a low of $49.09 and a high of $81.57, respectively.
On November 4, the most recent quarterly earnings report for Cardinal Health, traded on the NYSE under the CAH, was made public. The company reported earnings of $1.20 per share for the quarter, which is $0.24 more than the consensus estimate of $0.96 per share among financial analysts. The revenue for the quarter came in significantly higher than the $46.88 billion analysts had anticipated, coming in at a total of $49.60 billion instead. Cardinal Health’s return on equity was negative by 252.82%, and the company’s profit margin was also negative by 0.59%. Cardinal Health, Inc. is anticipated to generate $5.28 per share during the current fiscal year, as stated by predictions made available by sell-side analysts.
In addition, the company recently announced and paid out a quarterly dividend, which was done on the 15th of this month. The dividend was distributed. Investors whose information was already on file received a dividend payment of $0.4957 on January 3, 2019, when the dividend was declared. This yields a dividend payment of $1.98 and a dividend yield of 2.58% when calculated annually. The dividend payment can be found here. The day on which the dividend was no longer payable was last Friday, December 30. This figure is referred to as the dividend payout ratio (DPR) in financial jargon. Cardinal Health has a DPR of 32.35%.