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Lbp Am Sa Sells 1,766 Shares of Cardinal Health, Inc. (NYSE:CAH)

Cardinal Health logo with Medical background

LBP AM SA lessened its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,268 shares of the company's stock after selling 1,766 shares during the period. LBP AM SA's holdings in Cardinal Health were worth $7,201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Cardinal Health in the fourth quarter worth approximately $246,748,000. Marshall Wace LLP lifted its stake in shares of Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after acquiring an additional 1,913,892 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Cardinal Health in the fourth quarter worth approximately $141,963,000. GAMMA Investing LLC lifted its stake in shares of Cardinal Health by 17,589.1% in the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock worth $132,940,000 after acquiring an additional 959,486 shares during the period. Finally, Junto Capital Management LP acquired a new position in shares of Cardinal Health in the fourth quarter worth approximately $92,811,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of NYSE CAH traded down $1.21 during trading on Friday, reaching $160.96. 456,278 shares of the stock traded hands, compared to its average volume of 2,453,192. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $168.44. The company has a 50-day moving average of $157.45 and a 200-day moving average of $138.46. The stock has a market capitalization of $38.42 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 1.63 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. The business 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 quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 EPS. Analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio is currently 31.83%.

Analyst Ratings Changes

Several equities analysts have issued reports on CAH shares. UBS Group boosted their price target on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Bank of America boosted their price target on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Evercore ISI reissued an "outperform" rating and issued a $180.00 price target (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Finally, Robert W. Baird boosted their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

Get Our Latest Stock 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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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