Federated Hermes Inc. Increases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Federated Hermes Inc. raised its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 267,941 shares of the company's stock after acquiring an additional 14,606 shares during the period. Federated Hermes Inc. owned approximately 0.11% of Cardinal Health worth $27,008,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Cornerstone Wealth Management LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at $209,000. Nordea Investment Management AB lifted its holdings in shares of Cardinal Health by 50.5% during the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company's stock valued at $18,649,000 after purchasing an additional 61,933 shares in the last quarter. Vest Financial LLC lifted its holdings in shares of Cardinal Health by 15.9% during the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company's stock valued at $28,470,000 after purchasing an additional 38,769 shares in the last quarter. Bellwether Advisors LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at $6,290,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Cardinal Health by 30.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company's stock valued at $54,618,000 after purchasing an additional 126,668 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAH. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They issued an "outperform" rating and a $125.00 target price on the stock. Barclays began coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an "overweight" rating and a $117.00 target price on the stock. TheStreet downgraded Cardinal Health from a "b-" rating to a "c+" rating in a report on Wednesday, December 27th. Argus raised Cardinal Health from a "hold" rating to a "buy" rating in a report on Friday, February 9th. Finally, Leerink Partnrs reaffirmed an "outperform" rating on shares of Cardinal Health in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $103.07.

Cardinal Health Price Performance

Shares of NYSE:CAH traded up $2.19 during trading on Friday, hitting $108.19. 1,486,096 shares of the company's stock were exchanged, compared to its average volume of 1,448,336. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04. The business's 50-day simple moving average is $109.59 and its 200 day simple moving average is $104.41. The company has a market cap of $26.32 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion during the quarter, compared to analysts' expectations of $57.02 billion. During the same quarter last year, the business posted $1.32 earnings per share. The firm's revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health's dividend payout ratio is presently 78.74%.

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.