Cardinal Health, Inc. $CAH Shares Bought by Dorsey Wright & Associates

Dorsey Wright & Associates increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 2,367.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,318 shares of the company’s stock after purchasing an additional 28,130 shares during the period. Dorsey Wright & Associates’ holdings in Cardinal Health were worth $4,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Vanguard Group Inc. boosted its position in Cardinal Health by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock worth $4,838,054,000 after purchasing an additional 247,667 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Cardinal Health by 3.2% in the 3rd quarter. Bank of America Corp DE now owns 3,592,775 shares of the company’s stock valued at $563,922,000 after purchasing an additional 111,582 shares during the period. Invesco Ltd. boosted its holdings in Cardinal Health by 14.7% during the third quarter. Invesco Ltd. now owns 3,483,207 shares of the company’s stock worth $546,724,000 after buying an additional 445,425 shares in the last quarter. Finally, Norges Bank purchased a new position in Cardinal Health in the second quarter valued at $584,420,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CAH shares. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. upped their price target on Cardinal Health from $209.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. UBS Group set a $260.00 price target on Cardinal Health and gave the stock a “buy” rating in a research report on Friday, February 6th. Barclays boosted their price objective on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. Finally, Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Stock Performance

NYSE:CAH opened at $216.32 on Wednesday. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $233.60. The stock has a 50 day moving average price of $217.24 and a 200 day moving average price of $193.45. The stock has a market cap of $50.90 billion, a PE ratio of 31.13, a P/E/G ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 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.