Barrow Hanley Mewhinney & Strauss LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,051,896 shares of the company’s stock after selling 795,052 shares during the quarter. Cardinal Health comprises about 2.0% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 16th largest position. Barrow Hanley Mewhinney & Strauss LLC owned about 6.37% of Cardinal Health worth $1,341,873,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Brandes Investment Partners LP acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $2,464,000. Victory Capital Management Inc. lifted its position in shares of Cardinal Health by 202.1% during the 2nd quarter. Victory Capital Management Inc. now owns 61,304 shares of the company’s stock valued at $4,776,000 after acquiring an additional 41,013 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Cardinal Health during the 2nd quarter valued at $164,000. Swiss National Bank lifted its position in shares of Cardinal Health by 1.6% during the 2nd quarter. Swiss National Bank now owns 1,152,648 shares of the company’s stock valued at $89,814,000 after acquiring an additional 18,600 shares during the period. Finally, FDx Advisors Inc. lifted its position in shares of Cardinal Health by 7.9% during the 3rd quarter. FDx Advisors Inc. now owns 43,508 shares of the company’s stock valued at $2,912,000 after acquiring an additional 3,172 shares during the period. 88.35% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on CAH. Deutsche Bank started coverage on shares of Cardinal Health in a report on Monday, December 4th. They set a “hold” rating and a $64.00 price objective on the stock. Morgan Stanley lowered shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 20th. Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Jefferies Group lowered their price target on shares of Cardinal Health from $77.00 to $67.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and an average price target of $73.91.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. The business had revenue of $32.64 billion during the quarter, compared to the consensus estimate of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 EPS. equities research analysts anticipate that Cardinal Health, Inc. will post 4.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.4624 per share. The ex-dividend date is Friday, December 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.02%. Cardinal Health’s dividend payout ratio (DPR) is presently 53.78%.
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Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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