Mackenzie Financial Corp Acquires 72,238 Shares of Cardinal Health, Inc. (NYSE:CAH)

Posted by Defense World Staff on Jul 12th, 2023

Mackenzie Financial Corp raised its stake in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 43.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,937 shares of the company’s stock after acquiring an additional 72,238 shares during the quarter. Mackenzie Financial Corp owned approximately 0.09% of Cardinal Health worth $17,964,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Panagora Asset Management Inc. raised its stake in shares of Cardinal Health by 53.6% during the first quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock valued at $1,452,000 after acquiring an additional 8,935 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Cardinal Health by 4.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,071 shares of the company’s stock valued at $2,102,000 after buying an additional 1,702 shares during the last quarter. Cibc World Market Inc. acquired a new stake in shares of Cardinal Health in the first quarter valued at about $212,000. Blair William & Co. IL raised its position in shares of Cardinal Health by 6.7% during the first quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock worth $667,000 after acquiring an additional 734 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Cardinal Health by 6.4% in the first quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock worth $26,792,000 after acquiring an additional 28,568 shares during the period. 85.40% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $94.38 on Wednesday. The company has a 50-day moving average price of $87.79 and a 200-day moving average price of $80.66. The stock has a market capitalization of $24.03 billion, a P/E ratio of 54.24, a P/E/G ratio of 1.08 and a beta of 0.79. Cardinal Health, Inc. has a 1 year low of $51.95 and a 1 year high of $95.10.

Cardinal Health (NYSE:CAH – Get Free Report) last released its quarterly earnings results on Thursday, May 4th. The company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. Cardinal Health had a negative return on equity of 81.55% and a net margin of 0.23%. The business had revenue of $50.50 billion during the quarter, compared to the consensus estimate of $49.63 billion. During the same quarter in the previous year, the business earned $1.45 EPS. The company’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 5.71 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Monday, July 3rd will be given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.12%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, June 30th. Cardinal Health’s dividend payout ratio (DPR) is presently 114.94%.

Analyst Upgrades and Downgrades

CAH has been the subject of several analyst reports. Mizuho raised their price target on shares of Cardinal Health from $85.00 to $94.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $88.00 to $90.00 in a research report on Monday, May 8th. Bank of America lifted their price objective on Cardinal Health from $85.00 to $91.00 in a research report on Friday, June 9th. Credit Suisse Group upped their target price on Cardinal Health from $90.00 to $100.00 in a research report on Monday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on Cardinal Health from $90.00 to $93.00 in a report on Friday, June 9th. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $89.43.

Cardinal Health Company Profile

(Free Report)

Cardinal Health, Inc operates as an integrated 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.