Comerica Bank Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Comerica Bank lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 16.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 76,245 shares of the company's stock after selling 14,794 shares during the period. Comerica Bank's holdings in Cardinal Health were worth $9,018,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Cardinal Health by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock worth $691,145,000 after acquiring an additional 109,273 shares during the period. Invesco Ltd. increased its holdings in Cardinal Health by 4.6% during the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares during the period. Marshall Wace LLP lifted its holdings in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after buying an additional 1,913,892 shares during the period. Northern Trust Corp raised its position in shares of Cardinal Health by 16.2% in the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after acquiring an additional 422,755 shares in the last quarter. Finally, Amundi boosted its position in Cardinal Health by 5.5% during the fourth quarter. Amundi now owns 2,116,291 shares of the company's stock valued at $259,309,000 after purchasing an additional 110,605 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CAH. Mizuho increased their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Bank of America lifted their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Friday, April 11th. StockNews.com raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Monday. TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Morgan Stanley boosted their price target on Cardinal Health from $142.00 to $166.00 and gave the stock an "overweight" rating in a research note on Monday. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.

Cardinal Health Stock Down 0.1 %

Shares of Cardinal Health stock traded down $0.19 on Tuesday, reaching $151.80. The company's stock had a trading volume of 2,056,713 shares, compared to its average volume of 2,196,065. The company has a market capitalization of $36.23 billion, a P/E ratio of 28.32, a PEG ratio of 1.49 and a beta of 0.66. The stock has a 50-day moving average price of $133.36 and a 200-day moving average price of $125.62. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $154.10.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. The firm had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 earnings per share. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is 31.51%.

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.