Allspring Global Investments Holdings LLC decreased its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 162,909 shares of the company's stock after selling 4,735 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Cardinal Health worth $22,340,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Carolina Wealth Advisors LLC grew its position in shares of Cardinal Health by 291.2% during the 1st quarter. Carolina Wealth Advisors LLC now owns 7,499 shares of the company's stock worth $1,033,000 after buying an additional 5,582 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in Cardinal Health in the first quarter worth about $7,908,000. Victrix Investment Advisors grew its holdings in Cardinal Health by 3.9% during the 1st quarter. Victrix Investment Advisors now owns 2,659 shares of the company's stock worth $366,000 after acquiring an additional 100 shares in the last quarter. PDS Planning Inc increased its position in Cardinal Health by 2.2% during the 1st quarter. PDS Planning Inc now owns 6,882 shares of the company's stock valued at $948,000 after purchasing an additional 147 shares during the period. Finally, Pure Financial Advisors LLC purchased a new position in Cardinal Health during the 1st quarter valued at about $246,000. Institutional investors own 87.17% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on CAH. Citigroup reissued a "neutral" rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Morgan Stanley set a $181.00 price target on Cardinal Health and gave the stock an "overweight" rating in a research report on Friday, June 13th. Bank of America upped their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Evercore ISI reiterated an "outperform" rating and issued a $180.00 target price (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Finally, UBS Group boosted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and an average price target of $157.43.
View Our Latest Analysis on CAH
Cardinal Health Stock Up 1.7%
Shares of CAH traded up $2.82 during trading hours on Thursday, reaching $164.80. 1,234,057 shares of the company traded hands, compared to its average volume of 2,245,561. The business has a fifty day moving average price of $155.04 and a 200-day moving average price of $136.82. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $168.44. The stock has a market capitalization of $39.33 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.60 and a beta of 0.68.
Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The firm had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The company's revenue was up .0% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 EPS 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. Stockholders of record on Tuesday, July 1st will be issued a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is 31.83%.
Cardinal Health Profile
(
Free Report)
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.
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