OLD Republic International Corp Sells 61,000 Shares of Cardinal Health, Inc. (NYSE:CAH)

OLD Republic International Corp lessened its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 13.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 410,000 shares of the company's stock after selling 61,000 shares during the period. Cardinal Health accounts for 2.2% of OLD Republic International Corp's holdings, making the stock its 19th biggest position. OLD Republic International Corp owned about 0.17% of Cardinal Health worth $56,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. Cyrus J. Lawrence LLC bought a new stake in shares of Cardinal Health during the 4th quarter worth about $26,000. Bellwether Advisors LLC bought a new stake in shares of Cardinal Health during the fourth quarter worth approximately $32,000. Tompkins Financial Corp increased its stake in shares of Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after purchasing an additional 128 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health during the fourth quarter worth approximately $35,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Cardinal Health in the 4th quarter valued at $36,000. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 5th. Morgan Stanley set a $181.00 target price on shares of Cardinal Health and gave the stock an "overweight" rating in a report on Friday, June 13th. 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. Citigroup restated a "neutral" rating and set a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Finally, 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 research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $157.43.

Cardinal Health Trading Down 1.4%

NYSE:CAH traded down $2.31 on Thursday, hitting $161.95. The company had a trading volume of 2,223,606 shares, compared to its average volume of 2,242,849. The stock has a market capitalization of $38.65 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.63 and a beta of 0.68. The firm has a 50 day moving average of $157.12 and a two-hundred day moving average of $138.16. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The company had revenue of $54.88 billion during 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%. Cardinal Health's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current 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 issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.26%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is presently 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.