Elo Mutual Pension Insurance Co increased its position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 1.5% during the fourth quarter, Holdings Channel reports. The fund owned 21,636 shares of the company’s stock after acquiring an additional 327 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Cardinal Health were worth $2,181,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $30,000. Hexagon Capital Partners LLC increased its stake in Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after buying an additional 118 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Cardinal Health in the 4th quarter valued at approximately $36,000. Finally, Altshuler Shaham Ltd acquired a new position in Cardinal Health in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 87.17% of the company’s stock.
Cardinal Health Trading Up 0.2 %
NYSE CAH opened at $99.01 on Wednesday. The company has a fifty day simple moving average of $101.44 and a 200 day simple moving average of $104.93. The company has a market cap of $24.12 billion, a P/E ratio of 44.00, a P/E/G ratio of 1.12 and a beta of 0.64. Cardinal Health, Inc. has a 1 year low of $85.11 and a 1 year high of $116.04.
Cardinal Health (NYSE:CAH – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s quarterly 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 EPS. Equities research analysts forecast that Cardinal Health, Inc. will post 7.35 EPS 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 issued a dividend of $0.5056 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, July 1st. Cardinal Health’s dividend payout ratio is currently 88.89%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on CAH shares. Robert W. Baird dropped their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Argus dropped their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.57.
Read Our Latest Analysis on CAH
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.
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