Huntington National Bank cut its position in shares of Cardinal Health Inc (NYSE:CAH) by 9.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,012 shares of the company’s stock after selling 2,886 shares during the period. Huntington National Bank’s holdings in Cardinal Health were worth $1,397,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its holdings in shares of Cardinal Health by 22.0% in the 3rd quarter. Vanguard Group Inc now owns 28,021,950 shares of the company’s stock valued at $1,513,186,000 after purchasing an additional 5,058,369 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Cardinal Health by 8.9% in the 4th quarter. BlackRock Inc. now owns 26,135,772 shares of the company’s stock valued at $1,165,655,000 after purchasing an additional 2,134,377 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Cardinal Health by 10.5% in the 3rd quarter. Macquarie Group Ltd. now owns 13,864,677 shares of the company’s stock valued at $748,692,000 after purchasing an additional 1,320,410 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Cardinal Health by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 8,119,896 shares of the company’s stock valued at $362,149,000 after purchasing an additional 290,620 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of Cardinal Health by 6.2% in the 4th quarter. American International Group Inc. now owns 7,831,671 shares of the company’s stock valued at $349,293,000 after purchasing an additional 460,358 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. ValuEngine lowered shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Monday, February 25th. UBS Group assumed coverage on shares of Cardinal Health in a research note on Thursday, January 17th. They set a “neutral” rating and a $51.00 price objective for the company. Guggenheim assumed coverage on shares of Cardinal Health in a research note on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price objective for the company. Finally, Wolfe Research assumed coverage on shares of Cardinal Health in a research note on Tuesday, April 2nd. They set 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 assigned a buy rating to the stock. Cardinal Health currently has an average rating of “Hold” and a consensus target price of $56.20.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 7th. The company reported $1.29 earnings per share (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 for the quarter, compared to analyst estimates of $36.09 billion. During the same quarter in the prior year, the business posted $1.31 EPS. Cardinal Health’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts predict that Cardinal Health Inc will post 5.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.4763 dividend. This represents a $1.91 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Friday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is currently 38.20%.
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Cardinal Health Company Profile
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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