Comerica Bank Lowers Position in Cardinal Health, Inc. $CAH

Key Points

• Comerica Bank cut its stake in Cardinal Health by 10.5% in Q4 to 61,658 shares worth $12.67 million, even as several large institutions sharply increased positions — institutional ownership now stands at 87.17%.
• Analysts give CAH a consensus rating of "Moderate Buy" with an average target of $244.33, and multiple firms have issued buy/outperform price targets ranging roughly from $240 to $275.
• Cardinal Health beat Q4 expectations with EPS $2.63 and revenue of $65.63 billion (up 18.8% YoY); the stock trades around $205.58, has a 12‑month range of $136.71–$233.60, and pays a quarterly dividend of $0.5107 (≈1.0% yield).

Comerica Bank cut its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,658 shares of the company's stock after selling 7,235 shares during the period. Comerica Bank's holdings in Cardinal Health were worth $12,671,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CAH. Wellington Management Group LLP lifted its holdings in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of Cardinal Health by 141.4% during the third quarter. Holocene Advisors LP now owns 1,926,170 shares of the company's stock valued at $302,332,000 after purchasing an additional 1,128,358 shares during the last quarter. Barclays PLC lifted its holdings in shares of Cardinal Health by 109.3% during the third quarter. Barclays PLC now owns 1,584,214 shares of the company's stock valued at $248,658,000 after purchasing an additional 827,446 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Cardinal Health by 3,829.1% during the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company's stock valued at $149,504,000 after purchasing an additional 708,995 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Cardinal Health by 44.9% during the third quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company's stock valued at $352,165,000 after purchasing an additional 707,495 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAH has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $209.00 to $243.00 and gave the company a "neutral" rating in a report on Tuesday, February 10th. Zacks Research upgraded shares of Cardinal Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Leerink Partners reissued an "outperform" rating and set a $275.00 price target on shares of Cardinal Health in a research report on Monday, March 9th. Evercore reduced their price target on shares of Cardinal Health from $260.00 to $240.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. Finally, UBS Group set a $260.00 price target on shares of Cardinal Health and gave the company a "buy" rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.33.

Cardinal Health Trading Up 1.6%

NYSE:CAH opened at $205.58 on Wednesday. Cardinal Health, Inc. has a 12 month low of $136.71 and a 12 month high of $233.60. The company has a market cap of $48.38 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. The company has a 50 day simple moving average of $214.77 and a two-hundred day simple moving average of $205.56.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The firm's revenue was up 18.8% on a year-over-year basis. Research analysts forecast that Cardinal Health, Inc. will post 10.32 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is currently 29.35%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

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