Amundi Pioneer Asset Management Inc. lessened its position in Cardinal Health Inc (NYSE:CAH) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 265,442 shares of the company’s stock after selling 40,911 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.09% of Cardinal Health worth $11,839,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Gemmer Asset Management LLC boosted its stake in Cardinal Health by 172.4% during the fourth quarter. Gemmer Asset Management LLC now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 350 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Cardinal Health in the fourth quarter worth about $32,000. CNB Bank purchased a new position in Cardinal Health in the fourth quarter worth about $36,000. Financial Gravity Companies Inc. purchased a new position in Cardinal Health in the fourth quarter worth about $68,000. Finally, Financial Advocates Investment Management raised its holdings in Cardinal Health by 61.7% in the fourth quarter. Financial Advocates Investment Management now owns 4,254 shares of the company’s stock worth $70,000 after buying an additional 1,624 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.
CAH has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. ValuEngine cut shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. UBS Group initiated coverage on shares of Cardinal Health in a report on Thursday, January 17th. They set a “neutral” rating and a $51.00 price objective for the company. Guggenheim initiated coverage on shares of Cardinal Health in a research report on Wednesday. They issued a “neutral” rating and a $51.00 target price for the company. Finally, Wolfe Research initiated coverage on shares of Cardinal Health in a research report on Tuesday, April 2nd. They issued an “underperform” rating for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.20.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 7th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.20. Cardinal Health had a negative net margin of 0.03% and a positive return on equity of 24.01%. The business had revenue of $37.70 billion during the quarter, compared to analysts’ expectations of $36.09 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Cardinal Health Inc will post 5.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.4763 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.14%. Cardinal Health’s payout ratio is currently 38.20%.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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