abrdn plc Sells 50,477 Shares of Cardinal Health, Inc. (NYSE:CAH)

abrdn plc trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 32.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 105,924 shares of the company’s stock after selling 50,477 shares during the quarter. abrdn plc’s holdings in Cardinal Health were worth $10,677,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC bought a new stake in shares of Cardinal Health during the 3rd quarter valued at $26,000. BKM Wealth Management LLC purchased a new position in Cardinal Health during the fourth quarter worth about $30,000. Wetzel Investment Advisors Inc. purchased a new position in Cardinal Health during the fourth quarter worth about $36,000. Headlands Technologies LLC purchased a new position in Cardinal Health during the third quarter worth about $47,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Cardinal Health during the fourth quarter worth about $59,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays assumed coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price for the company. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. UBS Group boosted their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.07.

Cardinal Health Price Performance

Shares of CAH stock opened at $103.81 on Friday. The stock has a market capitalization of $25.25 billion, a PE ratio of 40.87, a P/E/G ratio of 1.00 and a beta of 0.68. Cardinal Health, Inc. has a 1-year low of $77.56 and a 1-year high of $116.04. The business has a 50-day moving average of $109.54 and a 200 day moving average of $104.58.

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

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is presently 78.74%.

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.