Lincoln National Corp Sells 244 Shares of Cardinal Health, Inc. (NYSE:CAH)

Lincoln National Corp lowered its stake in Cardinal Health, Inc. (NYSE:CAHFree Report) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,659 shares of the company’s stock after selling 244 shares during the quarter. Lincoln National Corp’s holdings in Cardinal Health were worth $268,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cornerstone Wealth Management LLC bought a new stake in Cardinal Health during the 4th quarter valued at $209,000. Mather Group LLC. increased its stake in Cardinal Health by 2.5% during the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock valued at $673,000 after purchasing an additional 164 shares in the last quarter. Nordea Investment Management AB increased its stake in Cardinal Health by 50.5% during the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after purchasing an additional 61,933 shares in the last quarter. Vest Financial LLC increased its stake in Cardinal Health by 15.9% during the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock valued at $28,470,000 after purchasing an additional 38,769 shares in the last quarter. Finally, Certuity LLC bought a new stake in Cardinal Health during the 4th quarter valued at $228,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Friday. UBS Group lifted their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, SVB Leerink began coverage on shares of Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target on the stock. 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. According to data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $107.00.

View Our Latest Research Report on CAH

Cardinal Health Stock Down 1.5 %

Shares of CAH opened at $98.04 on Tuesday. The business’s 50-day moving average price is $107.54 and its 200-day moving average price is $105.42. Cardinal Health, Inc. has a twelve month low of $80.90 and a twelve month high of $116.04. The stock has a market cap of $23.88 billion, a PE ratio of 43.57, a P/E/G ratio of 1.13 and a beta of 0.71.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.74 earnings per share. Analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 annualized dividend and a yield of 2.06%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is currently 89.78%.

Cardinal Health 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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