Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Cardinal Health, Inc. (NYSE:CAHFree Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 300,046 shares of the company’s stock after selling 15,537 shares during the period. Principal Financial Group Inc. owned 0.12% of Cardinal Health worth $30,245,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of Cardinal Health by 82.2% in the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after buying an additional 1,862,291 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Cardinal Health by 0.9% in the third quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock valued at $290,026,000 after purchasing an additional 28,412 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Cardinal Health by 17.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock valued at $264,052,000 after purchasing an additional 389,431 shares in 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 in the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after acquiring an additional 823,520 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE CAH opened at $99.08 on Friday. The company has a 50 day simple moving average of $106.34 and a 200-day simple moving average of $105.51. The firm has a market capitalization of $24.13 billion, a price-to-earnings ratio of 44.04, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. Cardinal Health, Inc. has a 52-week low of $80.90 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 earnings per share. On average, analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.5056 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 annualized dividend and a dividend yield of 2.04%. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Analyst Ratings Changes

CAH has been the topic of several analyst reports. Evercore ISI increased their price objective on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Robert W. Baird lowered their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Argus reduced their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $107.57.

Read Our Latest Stock Analysis on CAH

About Cardinal Health

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.