Dynamic Technology Lab Private Ltd Purchases 2,610 Shares of Cardinal Health, Inc. (NYSE:CAH)

Dynamic Technology Lab Private Ltd raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 22.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,997 shares of the company’s stock after acquiring an additional 2,610 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Cardinal Health were worth $1,547,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Eastern Bank purchased a new position in Cardinal Health in the 3rd quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health during the second quarter valued at about $27,000. Frazier Financial Advisors LLC increased its holdings in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health in the 2nd quarter valued at about $29,000. Finally, Hara Capital LLC bought a new stake in shares of Cardinal Health in the 3rd quarter valued at about $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Cardinal Health stock opened at $121.77 on Tuesday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.14. The stock’s 50 day simple moving average is $114.07 and its two-hundred day simple moving average is $106.13. The stock has a market cap of $29.47 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.52 and a beta of 0.60.

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

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Robert W. Baird lifted their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Wells Fargo & Company upped their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Argus raised their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

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.