TD Asset Management Inc Buys 10,265 Shares of Cardinal Health, Inc. $CAH

TD Asset Management Inc raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 352,489 shares of the company’s stock after buying an additional 10,265 shares during the quarter. TD Asset Management Inc owned 0.15% of Cardinal Health worth $55,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its position in shares of Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after acquiring an additional 280 shares during the period. Jones Financial Companies Lllp raised its holdings in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Cardinal Health during the second quarter worth $659,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $278,000. Finally, Rossby Financial LCC increased its position in shares of Cardinal Health by 205.9% in the 2nd quarter. Rossby Financial LCC now owns 520 shares of the company’s stock valued at $87,000 after buying an additional 350 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley set a $255.00 price objective on Cardinal Health in a research note on Friday, February 6th. Barclays increased their target price on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a report on Tuesday. TD Cowen lifted their price target on Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Wells Fargo & Company lifted their target price on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.20.

Cardinal Health Stock Performance

NYSE:CAH opened at $227.10 on Friday. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $230.81. The company has a market cap of $53.44 billion, a P/E ratio of 32.68, a P/E/G ratio of 1.46 and a beta of 0.64. The stock’s 50-day simple moving average is $213.56 and its 200 day simple moving average is $186.44.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The firm had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company earned $1.93 earnings per share. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s payout ratio is presently 29.35%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.