Cardinal Health, Inc. (NYSE:CAH) Holdings Cut by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,443 shares of the company's stock after selling 3,476 shares during the period. Verdence Capital Advisors LLC's holdings in Cardinal Health were worth $2,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Cardinal Health by 5.3% in the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock valued at $43,510,000 after acquiring an additional 15,956 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Cardinal Health by 1.2% in the fourth quarter. Huntington National Bank now owns 10,920 shares of the company's stock valued at $1,292,000 after acquiring an additional 128 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of Cardinal Health by 17.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after acquiring an additional 457 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after acquiring an additional 2,694 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Cardinal Health by 569.5% in the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock valued at $54,000 after acquiring an additional 336 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

Cardinal Health stock traded down $0.01 during midday trading on Friday, reaching $159.45. The stock had a trading volume of 2,035,339 shares, compared to its average volume of 2,232,755. The firm's fifty day simple moving average is $158.45 and its two-hundred day simple moving average is $139.91. Cardinal Health, Inc. has a twelve month low of $94.29 and a twelve month high of $168.44. The firm has a market cap of $38.06 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 1.60 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same quarter last year, the business posted $2.08 EPS. The company's revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.5107 dividend. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.28%. Cardinal Health's dividend payout ratio is presently 31.83%.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of research reports. Bank of America raised their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Citigroup restated a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. UBS Group raised their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley raised their target price on shares of Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Mizuho raised their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.07.

Cardinal Health 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.