ARP Americas LP Purchases Shares of 7,590 Cardinal Health Inc (NYSE:CAH)

ARP Americas LP acquired a new stake in Cardinal Health Inc (NYSE:CAH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,590 shares of the company’s stock, valued at approximately $396,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Cardinal Health by 28.1% in the first quarter. JPMorgan Chase & Co. now owns 613,219 shares of the company’s stock valued at $29,398,000 after purchasing an additional 134,332 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Cardinal Health by 3.1% in the second quarter. State of Alaska Department of Revenue now owns 51,922 shares of the company’s stock valued at $2,709,000 after purchasing an additional 1,553 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Cardinal Health by 166.9% in the second quarter. Janney Montgomery Scott LLC now owns 133,227 shares of the company’s stock valued at $6,953,000 after purchasing an additional 83,305 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of Cardinal Health by 179.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 107,098 shares of the company’s stock valued at $5,590,000 after purchasing an additional 68,724 shares during the period. Finally, Martingale Asset Management L P boosted its stake in shares of Cardinal Health by 6.0% in the first quarter. Martingale Asset Management L P now owns 170,975 shares of the company’s stock valued at $8,197,000 after purchasing an additional 9,646 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the stock. UBS Group upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $48.00 to $64.00 in a research note on Friday, May 15th. Morgan Stanley lifted their price target on shares of Cardinal Health from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, June 15th. ValuEngine downgraded shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Cfra decreased their price target on shares of Cardinal Health from $61.00 to $58.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Finally, Mizuho lifted their price target on shares of Cardinal Health from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $58.27.

CAH stock traded down $1.86 during midday trading on Friday, reaching $54.62. 4,728,200 shares of the company were exchanged, compared to its average volume of 1,759,128. The company has a debt-to-equity ratio of 5.60, a quick ratio of 0.53 and a current ratio of 1.05. Cardinal Health Inc has a 1-year low of $39.05 and a 1-year high of $60.69. The stock’s 50-day simple moving average is $52.96 and its 200 day simple moving average is $52.11. The company has a market cap of $15.95 billion, a price-to-earnings ratio of -3.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.99.

Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, May 11th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.19. The business had revenue of $39.16 billion for the quarter, compared to analysts’ expectations of $37.04 billion. Cardinal Health had a negative net margin of 2.71% and a positive return on equity of 69.23%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 EPS. On average, research analysts anticipate that Cardinal Health Inc will post 5.29 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.486 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.56%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date was Tuesday, June 30th. Cardinal Health’s payout ratio is presently 36.74%.

About Cardinal Health

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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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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