Kestra Private Wealth Services LLC Has $1.46 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Kestra Private Wealth Services LLC trimmed its position in Cardinal Health, Inc. (NYSE:CAHGet Rating) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 25,726 shares of the company’s stock after selling 896 shares during the period. Kestra Private Wealth Services LLC’s holdings in Cardinal Health were worth $1,459,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CAH. Rafferty Asset Management LLC boosted its position in Cardinal Health by 2.4% in the 4th quarter. Rafferty Asset Management LLC now owns 9,473 shares of the company’s stock valued at $488,000 after buying an additional 222 shares during the last quarter. Pictet Asset Management SA boosted its position in Cardinal Health by 4.3% in the 4th quarter. Pictet Asset Management SA now owns 139,083 shares of the company’s stock valued at $7,161,000 after buying an additional 5,777 shares during the last quarter. Equitable Holdings Inc. bought a new position in Cardinal Health in the 4th quarter valued at $410,000. Allianz Asset Management GmbH boosted its position in shares of Cardinal Health by 66.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,441,815 shares of the company’s stock worth $74,239,000 after purchasing an additional 576,095 shares during the last quarter. Finally, MAI Capital Management bought a new position in shares of Cardinal Health in the 4th quarter worth $337,000. 85.07% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

CAH opened at $66.86 on Friday. The business’s 50-day moving average price is $63.83 and its two-hundred day moving average price is $58.87. Cardinal Health, Inc. has a 1 year low of $45.85 and a 1 year high of $72.28. The company has a market capitalization of $18.22 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 1.49 and a beta of 0.77. The company has a debt-to-equity ratio of 5.33, a current ratio of 1.08 and a quick ratio of 0.57.

Cardinal Health (NYSE:CAHGet Rating) last released its earnings results on Thursday, August 11th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.12). The company had revenue of $47.10 billion during the quarter, compared to analyst estimates of $44.82 billion. Cardinal Health had a negative net margin of 0.51% and a positive return on equity of 568.57%. Cardinal Health’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. Equities analysts expect that Cardinal Health, Inc. will post 5.27 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be given a $0.4957 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Friday, September 30th. Cardinal Health’s dividend payout ratio is currently 29.73%.

Analysts Set New Price Targets

CAH has been the topic of several recent research reports. Evercore ISI raised their price target on Cardinal Health to $75.00 in a research report on Monday, August 15th. Barclays raised their price target on Cardinal Health to $67.00 in a research report on Monday, August 15th. Mizuho lifted their target price on Cardinal Health from $58.00 to $66.00 in a report on Friday, August 12th. Credit Suisse Group lifted their target price on Cardinal Health from $56.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, August 12th. Finally, Morgan Stanley lifted their target price on Cardinal Health from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, August 22nd. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $70.20.

About Cardinal Health

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Cardinal Health, Inc operates as an integrated 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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