Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC cut its position in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 26.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 479 shares of the company’s stock after selling 173 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Cardinal Health were worth $54,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CAH. Kestra Advisory Services LLC increased its position in shares of Cardinal Health by 20.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 16,411 shares of the company’s stock valued at $1,425,000 after purchasing an additional 2,798 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of Cardinal Health by 7.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 26,564 shares of the company’s stock worth $2,306,000 after acquiring an additional 1,924 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of Cardinal Health in the 3rd quarter worth $1,418,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Cardinal Health in the 3rd quarter worth $1,833,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Cardinal Health by 22.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 558,756 shares of the company’s stock worth $48,511,000 after acquiring an additional 102,481 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent research reports. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 28th. Argus decreased their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Wells Fargo & Company decreased their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Finally, Evercore ISI raised their target price on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Read Our Latest Stock Report on Cardinal Health

Cardinal Health Price Performance

CAH traded down $0.64 during trading on Friday, reaching $103.73. 287,745 shares of the stock traded hands, compared to its average volume of 2,171,226. The stock has a market cap of $25.27 billion, a price-to-earnings ratio of 46.39, a price-to-earnings-growth ratio of 1.18 and a beta of 0.64. Cardinal Health, Inc. has a fifty-two week low of $85.11 and a fifty-two week high of $116.04. The stock’s 50-day simple moving average is $100.45 and its two-hundred day simple moving average is $104.73.

Cardinal Health (NYSE:CAHGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 earnings per share. Research analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.5056 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.95%. Cardinal Health’s dividend payout ratio (DPR) is presently 88.89%.

Cardinal Health Company Profile

(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.

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

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