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Federated Hermes Inc. Buys 212,274 Shares of Cardinal Health, Inc. (NYSE:CAH)

Cardinal Health logo with Medical background

Key Points

  • Federated Hermes Inc. increased its stake in Cardinal Health, Inc. by 36.7% during the first quarter, owning approximately 790,641 shares valued at $108.9 million.
  • Analyst upgrades for Cardinal Health include Wells Fargo raising its price target to $179 and Morgan Stanley to $190, contributing to a consensus rating of "Moderate Buy".
  • Cardinal Health recently increased its quarterly dividend to $0.5107, reflecting a positive change in its annualized yield to 1.31% with a payout ratio of 31.83%.
  • Interested in Cardinal Health? Here are five stocks we like better.

Federated Hermes Inc. grew its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 36.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 790,641 shares of the company's stock after acquiring an additional 212,274 shares during the quarter. Federated Hermes Inc. owned 0.33% of Cardinal Health worth $108,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CAH. Tompkins Financial Corp increased its stake in Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after purchasing an additional 128 shares in the last quarter. Bellwether Advisors LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $32,000. GW&K Investment Management LLC boosted its holdings in shares of Cardinal Health by 113.4% in the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock valued at $37,000 after buying an additional 144 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Cardinal Health during the 4th quarter valued at $36,000. Finally, NBC Securities Inc. acquired a new stake in Cardinal Health during the 1st quarter valued at $48,000. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group increased their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Robert W. Baird upped their target price on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Finally, Citigroup reiterated a "neutral" rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $158.07.

View Our Latest Research Report on Cardinal Health

Cardinal Health Price Performance

CAH stock traded up $0.57 during midday trading on Friday, hitting $155.79. The stock had a trading volume of 1,083,409 shares, compared to its average volume of 2,375,125. The firm has a market cap of $37.18 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68. The business has a 50-day moving average of $159.67 and a two-hundred day moving average of $142.48. Cardinal Health, Inc. has a 52-week low of $96.05 and a 52-week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.20. The company had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. Research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.5107 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.3%. Cardinal Health's payout ratio is currently 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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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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