Cardinal Health, Inc. (NYSE:CAH) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its position in Cardinal Health, Inc. (NYSE:CAH) by 29.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,540 shares of the company’s stock after selling 5,282 shares during the period. OLD National Bancorp IN’s holdings in Cardinal Health were worth $1,264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ameriprise Financial Inc. grew its stake in Cardinal Health by 82.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after purchasing an additional 1,862,291 shares in the last quarter. Northern Trust Corp lifted its holdings in Cardinal Health by 0.9% during the 3rd quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock worth $290,026,000 after buying an additional 28,412 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Cardinal Health by 17.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock worth $264,052,000 after buying an additional 389,431 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Cardinal Health by 0.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock worth $216,749,000 after buying an additional 19,287 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Cardinal Health by 2.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,149,131 shares of the company’s stock worth $99,768,000 after buying an additional 32,892 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.5 %

CAH opened at $103.37 on Wednesday. The business has a 50 day moving average price of $109.56 and a two-hundred day moving average price of $104.60. The company has a market cap of $25.14 billion, a PE ratio of 40.70, a P/E/G ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a 52 week low of $77.56 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 EPS. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent analyst reports. UBS Group lifted their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. SVB Leerink initiated coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, Barclays started coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $103.07.

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.