OLD Republic International Corp Has $56.49 Million Position in Cardinal Health, Inc. (NYSE:CAH)

OLD Republic International Corp trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 13.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 410,000 shares of the company's stock after selling 61,000 shares during the period. Cardinal Health makes up approximately 2.2% of OLD Republic International Corp's investment portfolio, making the stock its 19th largest position. OLD Republic International Corp owned about 0.17% of Cardinal Health worth $56,486,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CAH. Norges Bank acquired a new stake in Cardinal Health during the fourth quarter worth about $246,748,000. Marshall Wace LLP boosted its stake in shares of Cardinal Health by 154.6% in the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after purchasing an additional 1,913,892 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $141,963,000. GAMMA Investing LLC boosted its stake in shares of Cardinal Health by 17,589.1% in the 1st quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after purchasing an additional 959,486 shares in the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $92,811,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CAH shares. Bank of America raised their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. 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. 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 lifted their target price 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. Finally, Citigroup reiterated a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Stock Down 1.9%

Cardinal Health stock traded down $3.20 during mid-day trading on Tuesday, hitting $164.43. 2,066,889 shares of the stock were exchanged, compared to its average volume of 2,244,022. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $168.88. The firm's fifty day simple moving average is $156.17 and its two-hundred day simple moving average is $137.79. The stock has a market capitalization of $39.25 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.63 and a beta of 0.68.

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, 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 0.70% and a negative return on equity of 68.84%. The company's revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 EPS. As a group, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is currently 31.83%.

About Cardinal Health

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.