Marshall Wace LLP acquired a new position in shares of Cardinal Health Inc (NYSE:CAH) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,274 shares of the company’s stock, valued at approximately $1,381,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Deprince Race & Zollo Inc. grew its position in Cardinal Health by 11.0% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 441,884 shares of the company’s stock worth $21,577,000 after purchasing an additional 43,672 shares during the last quarter. Kwmg LLC boosted its holdings in shares of Cardinal Health by 10.2% in the second quarter. Kwmg LLC now owns 29,682 shares of the company’s stock valued at $1,449,000 after acquiring an additional 2,746 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Cardinal Health by 42.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,422 shares of the company’s stock valued at $216,000 after acquiring an additional 1,314 shares in the last quarter. Good Life Advisors LLC bought a new position in shares of Cardinal Health in the second quarter valued at approximately $657,000. Finally, Brown Advisory Inc. boosted its holdings in shares of Cardinal Health by 2,638.5% in the second quarter. Brown Advisory Inc. now owns 111,922 shares of the company’s stock valued at $5,465,000 after acquiring an additional 107,835 shares in the last quarter. Hedge funds and other institutional investors own 87.90% of the company’s stock.

Shares of NYSE:CAH traded up $0.10 during mid-day trading on Friday, hitting $51.63. The stock had a trading volume of 3,969,779 shares, compared to its average volume of 3,265,501. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.53 and a current ratio of 1.07. The company has a market cap of $16.19 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02. Cardinal Health Inc has a 12-month low of $48.14 and a 12-month high of $75.75.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Monday, August 6th. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The business had revenue of $35.35 billion during the quarter, compared to the consensus estimate of $34.38 billion. Cardinal Health had a net margin of 0.19% and a return on equity of 22.59%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 EPS. On average, equities analysts predict that Cardinal Health Inc will post 5.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be given a $0.4763 dividend. This represents a $1.91 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, September 28th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio is 38.20%.

CAH has been the subject of several recent analyst reports. Royal Bank of Canada set a $60.00 price objective on shares of Cardinal Health and gave the company a “hold” rating in a report on Friday, September 21st. Argus reduced their target price on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, July 16th. Morgan Stanley reduced their target price on shares of Cardinal Health from $55.00 to $40.00 and set an “underweight” rating for the company in a report on Tuesday, July 3rd. Mizuho restated a “hold” rating and set a $53.00 target price on shares of Cardinal Health in a report on Sunday, August 12th. Finally, Robert W. Baird restated a “hold” rating and set a $51.00 target price on shares of Cardinal Health in a report on Friday, July 20th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $61.33.

In related news, CEO Jon L. Giacomin sold 2,890 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $51.95, for a total value of $150,135.50. Following the completion of the sale, the chief executive officer now owns 72,652 shares in the company, valued at approximately $3,774,271.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

About Cardinal Health

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.

Read More: Intrinsic Value

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

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