Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 137,588 shares of the company’s stock after purchasing an additional 1,375 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Cardinal Health worth $15,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Axxcess Wealth Management LLC acquired a new position in shares of Cardinal Health in the first quarter valued at approximately $217,000. EP Wealth Advisors LLC raised its holdings in Cardinal Health by 4.9% in the 1st quarter. EP Wealth Advisors LLC now owns 5,314 shares of the company’s stock valued at $595,000 after acquiring an additional 249 shares during the last quarter. Freestone Capital Holdings LLC raised its holdings in Cardinal Health by 0.6% in the 1st quarter. Freestone Capital Holdings LLC now owns 55,235 shares of the company’s stock valued at $6,181,000 after acquiring an additional 333 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in Cardinal Health in the first quarter valued at $421,000. Finally, Delap Wealth Advisory LLC acquired a new position in Cardinal Health in the first quarter valued at $328,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH stock traded up $1.46 during trading hours on Friday, reaching $98.37. The company had a trading volume of 1,383,461 shares, compared to its average volume of 2,157,154. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The company has a market capitalization of $23.96 billion, a P/E ratio of 43.72, a price-to-earnings-growth ratio of 1.07 and a beta of 0.61. The stock’s fifty day simple moving average is $98.02 and its 200 day simple moving average is $103.59.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $1.74 earnings per share. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a dividend of $0.5056 per share. The ex-dividend date of this dividend was Monday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Analysts Set New Price Targets

CAH has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Citigroup dropped their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday. Argus dropped their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Evercore ISI dropped their price objective on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Company 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.