Vanguard Group Inc. Cuts Position in Cardinal Health, Inc. (NYSE:CAH)

Vanguard Group Inc. lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,772,239 shares of the company’s stock after selling 20,738 shares during the quarter. Vanguard Group Inc. owned approximately 12.74% of Cardinal Health worth $3,639,433,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cyrus J. Lawrence LLC purchased a new position in shares of Cardinal Health during the 4th quarter valued at approximately $26,000. Promus Capital LLC purchased a new position in Cardinal Health during the fourth quarter valued at $30,000. Lee Danner & Bass Inc. acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $35,000. Kentucky Trust Co acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $41,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Argus set a $148.00 price target on Cardinal Health in a research note on Tuesday, February 4th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Morgan Stanley raised their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Trading Up 1.0 %

Shares of NYSE:CAH opened at $133.25 on Tuesday. The business has a 50-day moving average price of $127.60 and a 200 day moving average price of $120.24. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $133.67. The company has a market capitalization of $32.19 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is 37.69%.

Cardinal Health Company 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.