Exeter Financial LLC Grows Stake in Cardinal Health Inc (NYSE:CAH)

Exeter Financial LLC raised its stake in Cardinal Health Inc (NYSE:CAH) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,584 shares of the company’s stock after acquiring an additional 964 shares during the quarter. Exeter Financial LLC’s holdings in Cardinal Health were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. Regal Investment Advisors LLC lifted its stake in shares of Cardinal Health by 3.7% during the 2nd quarter. Regal Investment Advisors LLC now owns 37,111 shares of the company’s stock valued at $1,748,000 after buying an additional 1,319 shares in the last quarter. Conning Inc. lifted its stake in Cardinal Health by 17.3% in the 2nd quarter. Conning Inc. now owns 578,801 shares of the company’s stock worth $27,262,000 after purchasing an additional 85,449 shares in the last quarter. Putnam FL Investment Management Co. purchased a new stake in Cardinal Health in the 2nd quarter worth approximately $180,000. Edmp Inc. purchased a new stake in Cardinal Health in the 2nd quarter worth approximately $375,000. Finally, Strs Ohio lifted its stake in Cardinal Health by 167.1% in the 2nd quarter. Strs Ohio now owns 10,621 shares of the company’s stock worth $500,000 after purchasing an additional 6,645 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Several analysts have issued reports on the stock. ValuEngine upgraded shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 9th. Guggenheim assumed coverage on shares of Cardinal Health in a research note on Wednesday, April 17th. They issued a “neutral” rating and a $51.00 target price on the stock. Finally, Zacks Investment Research cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Cardinal Health currently has a consensus rating of “Hold” and an average target price of $54.11.

NYSE CAH opened at $42.92 on Wednesday. Cardinal Health Inc has a 1 year low of $42.01 and a 1 year high of $58.31. The company has a quick ratio of 0.54, a current ratio of 1.07 and a debt-to-equity ratio of 1.22. The stock has a market cap of $13.74 billion, a PE ratio of 8.58, a PEG ratio of 1.45 and a beta of 1.28. The business has a 50 day moving average price of $46.10.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 9th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.16. The company had revenue of $35.23 billion during the quarter, compared to the consensus estimate of $35.09 billion. Cardinal Health’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. On average, analysts forecast that Cardinal Health Inc will post 5.11 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a $0.4811 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.48%. Cardinal Health’s dividend payout ratio is presently 38.40%.

Cardinal Health Company Profile

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.

Featured Article: What is Cost of Capital?

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health Inc (NYSE:CAH).

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

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.