NorthRock Partners LLC decreased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 92.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,851 shares of the company's stock after selling 109,428 shares during the quarter. NorthRock Partners LLC's holdings in Cardinal Health were worth $1,219,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Tompkins Financial Corp boosted its position in Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after acquiring an additional 128 shares during the last quarter. Bellwether Advisors LLC acquired a new position in Cardinal Health during the fourth quarter worth about $32,000. GW&K Investment Management LLC boosted its position in Cardinal Health by 113.4% during the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after acquiring an additional 144 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Cardinal Health during the fourth quarter worth about $36,000. Finally, NBC Securities Inc. acquired a new position in Cardinal Health during the first quarter worth about $48,000. Institutional investors and hedge funds own 87.17% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on CAH. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 5th. Robert W. Baird boosted their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. UBS Group boosted their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley boosted their price target on shares of Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $180.00 target price (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Three investment 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 MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and a consensus price target of $158.07.
Check Out Our Latest Report on Cardinal Health
Cardinal Health Stock Up 0.5%
NYSE:CAH traded up $0.75 on Friday, hitting $155.97. The stock had a trading volume of 1,592,812 shares, compared to its average volume of 1,631,874. The stock has a market cap of $37.23 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.54 and a beta of 0.67. The company has a fifty day moving average price of $159.74 and a two-hundred day moving average price of $142.70. Cardinal Health, Inc. has a 1-year low of $96.05 and a 1-year high of $168.44.
Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The business's revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.
Cardinal Health Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.5107 dividend. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. Cardinal Health's payout ratio is presently 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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