Iowa State Bank Cuts Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Iowa State Bank trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,270 shares of the company's stock after selling 2,500 shares during the period. Cardinal Health comprises 1.5% of Iowa State Bank's holdings, making the stock its 20th largest position. Iowa State Bank's holdings in Cardinal Health were worth $6,926,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kingswood Wealth Advisors LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $315,000. Perigon Wealth Management LLC increased its stake in Cardinal Health by 13.0% in the 4th quarter. Perigon Wealth Management LLC now owns 2,152 shares of the company's stock valued at $273,000 after buying an additional 247 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in Cardinal Health by 7.9% in the 4th quarter. Mediolanum International Funds Ltd now owns 54,854 shares of the company's stock worth $6,452,000 after buying an additional 4,001 shares during the period. Independence Bank of Kentucky raised its position in shares of Cardinal Health by 12,800.0% during the 4th quarter. Independence Bank of Kentucky now owns 3,225 shares of the company's stock valued at $381,000 after buying an additional 3,200 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its position in shares of Cardinal Health by 3.3% during the 4th quarter. DAVENPORT & Co LLC now owns 5,740 shares of the company's stock valued at $679,000 after buying an additional 182 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Down 0.1%

CAH stock traded down $0.22 during midday trading on Thursday, reaching $153.85. 577,975 shares of the company's stock traded hands, compared to its average volume of 2,209,992. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $157.82. The stock's 50-day moving average is $142.85 and its 200 day moving average is $130.95. The stock has a market cap of $36.72 billion, a P/E ratio of 28.70, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business's revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $2.08 EPS. As a group, research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced 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 1.33%. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is 31.83%.

Wall Street Analyst Weigh In

CAH has been the topic of a number of analyst reports. UBS Group lifted their target price 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. Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $136.00 to $179.00 in a research report on Tuesday. 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 company an "outperform" rating in a research report on Friday, May 2nd. Finally, Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $149.50.

Cardinal Health Company Profile

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.