LMG Wealth Partners LLC decreased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 15.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,958 shares of the company's stock after selling 13,849 shares during the quarter. Cardinal Health accounts for about 2.4% of LMG Wealth Partners LLC's investment portfolio, making the stock its 10th largest holding. LMG Wealth Partners LLC's holdings in Cardinal Health were worth $10,602,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Summit X LLC lifted its stake in Cardinal Health by 28.5% in the 1st quarter. Summit X LLC now owns 3,454 shares of the company's stock worth $476,000 after acquiring an additional 766 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Cardinal Health by 10.5% in the 1st quarter. Victory Capital Management Inc. now owns 913,253 shares of the company's stock worth $125,819,000 after acquiring an additional 86,951 shares in the last quarter. Larson Financial Group LLC lifted its stake in Cardinal Health by 6.7% in the 1st quarter. Larson Financial Group LLC now owns 10,063 shares of the company's stock worth $1,386,000 after acquiring an additional 630 shares in the last quarter. Sage Mountain Advisors LLC lifted its stake in Cardinal Health by 22.9% in the 1st quarter. Sage Mountain Advisors LLC now owns 2,518 shares of the company's stock worth $347,000 after acquiring an additional 470 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Cardinal Health by 349.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,835 shares of the company's stock worth $391,000 after acquiring an additional 2,204 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.
Cardinal Health Price Performance
Shares of CAH stock traded up $0.62 on Friday, reaching $160.08. 534,818 shares of the stock were exchanged, compared to its average volume of 2,226,960. The stock has a market cap of $38.21 billion, a PE ratio of 24.94, a P/E/G ratio of 1.60 and a beta of 0.68. Cardinal Health, Inc. has a one year low of $94.29 and a one year high of $168.44. The stock has a 50 day moving average price of $158.45 and a 200 day moving average price of $139.91.
Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share 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 company 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 firm's quarterly revenue was up .0% on a year-over-year basis. On average, research analysts expect 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 was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.5107 per share. The ex-dividend date was Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.28%. Cardinal Health's payout ratio is 31.83%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on CAH shares. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. UBS Group raised their target price on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Mizuho lifted their price objective on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Finally, Citigroup reissued a "neutral" rating and set a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.07.
View Our Latest Report on CAH
Cardinal Health Company 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.
Featured Stories
Before you consider Cardinal Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cardinal Health wasn't on the list.
While Cardinal Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
