Fifth Third Wealth Advisors LLC Acquires 593 Shares of Cardinal Health, Inc. (NYSE:CAH)

Fifth Third Wealth Advisors LLC lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 17.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,070 shares of the company’s stock after acquiring an additional 593 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Cardinal Health were worth $450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of Cardinal Health by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after acquiring an additional 370,181 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Cardinal Health by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after acquiring an additional 14,030 shares during the period. ProShare Advisors LLC grew its stake in shares of Cardinal Health by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after acquiring an additional 85,247 shares during the period. Renaissance Technologies LLC grew its stake in shares of Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after acquiring an additional 111,137 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Cardinal Health by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock worth $158,390,000 after purchasing an additional 242,608 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $120.34 on Thursday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14. The business has a fifty day moving average price of $113.51 and a 200-day moving average price of $105.58. The stock has a market capitalization of $29.12 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CAH shares. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Evercore ISI increased their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Barclays increased their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Finally, Morgan Stanley raised their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.