ARP Americas LP Makes New Investment in Cardinal Health Inc (NYSE:CAH)

ARP Americas LP purchased a new position in Cardinal Health Inc (NYSE:CAH) in the second quarter, HoldingsChannel.com reports. The firm purchased 7,590 shares of the company’s stock, valued at approximately $396,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Convergence Investment Partners LLC boosted its holdings in Cardinal Health by 3.9% in the 2nd quarter. Convergence Investment Partners LLC now owns 65,788 shares of the company’s stock worth $3,433,000 after acquiring an additional 2,499 shares during the period. Malaga Cove Capital LLC boosted its stake in shares of Cardinal Health by 0.7% during the 2nd quarter. Malaga Cove Capital LLC now owns 27,078 shares of the company’s stock valued at $1,413,000 after buying an additional 200 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Cardinal Health by 58.5% during the 2nd quarter. Pacer Advisors Inc. now owns 93,383 shares of the company’s stock valued at $4,874,000 after buying an additional 34,467 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Cardinal Health during the 2nd quarter valued at approximately $525,000. Finally, V Wealth Advisors LLC purchased a new position in shares of Cardinal Health during the 2nd quarter valued at approximately $932,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

NYSE CAH traded down $1.86 during trading hours on Friday, hitting $54.62. The company had a trading volume of 4,728,200 shares, compared to its average volume of 1,759,128. Cardinal Health Inc has a fifty-two week low of $39.05 and a fifty-two week high of $60.69. The company has a quick ratio of 0.53, a current ratio of 1.05 and a debt-to-equity ratio of 5.60. The business has a fifty day simple moving average of $52.96 and a 200-day simple moving average of $52.11. The firm has a market cap of $15.95 billion, a P/E ratio of -3.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.99.

Cardinal Health (NYSE:CAH) last issued its earnings results on Monday, May 11th. The company reported $1.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.19. Cardinal Health had a positive return on equity of 69.23% and a negative net margin of 2.71%. The firm had revenue of $39.16 billion for the quarter, compared to analyst estimates of $37.04 billion. During the same period last year, the company earned $1.59 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts forecast that Cardinal Health Inc will post 5.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.486 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 3.56%. Cardinal Health’s dividend payout ratio (DPR) is currently 36.74%.

Several equities analysts have recently commented on the company. Cfra reduced their target price on Cardinal Health from $61.00 to $58.00 and set a “hold” rating for the company in a research note on Monday, May 11th. UBS Group upgraded Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the company from $48.00 to $64.00 in a research note on Friday, May 15th. ValuEngine cut Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Mizuho raised their price objective on Cardinal Health from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley raised their price objective on Cardinal Health from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.27.

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.

Recommended Story: SEC Filing

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

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