Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,467 shares of the company’s stock after acquiring an additional 194 shares during the period. Wedmont Private Capital’s holdings in Cardinal Health were worth $375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kestra Advisory Services LLC increased its holdings in Cardinal Health by 20.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 16,411 shares of the company’s stock worth $1,425,000 after acquiring an additional 2,798 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Cardinal Health by 22.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 558,756 shares of the company’s stock worth $48,511,000 after acquiring an additional 102,481 shares in the last quarter. Mariner LLC increased its holdings in Cardinal Health by 1.3% in the 3rd quarter. Mariner LLC now owns 48,068 shares of the company’s stock worth $4,173,000 after acquiring an additional 640 shares in the last quarter. Stifel Financial Corp increased its holdings in Cardinal Health by 4.7% in the 3rd quarter. Stifel Financial Corp now owns 202,706 shares of the company’s stock worth $17,599,000 after acquiring an additional 9,058 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in Cardinal Health by 269.8% in the 3rd quarter. Federated Hermes Inc. now owns 253,335 shares of the company’s stock worth $21,995,000 after acquiring an additional 184,823 shares in the last quarter. 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 issued reports on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Robert W. Baird dropped their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Evercore ISI upped their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Wells Fargo & Company dropped their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Trading Up 0.2 %

Shares of CAH opened at $104.63 on Friday. Cardinal Health, Inc. has a 12-month low of $85.11 and a 12-month high of $116.04. The firm has a 50-day moving average price of $100.44 and a 200 day moving average price of $104.71. The firm has a market capitalization of $25.48 billion, a P/E ratio of 46.50, a P/E/G ratio of 1.18 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Cardinal Health’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.5056 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.93%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is presently 88.89%.

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.