Rafferty Asset Management LLC Decreases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Rafferty Asset Management LLC reduced its position in Cardinal Health, Inc. (NYSE:CAHFree Report) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,090 shares of the company’s stock after selling 1,474 shares during the period. Rafferty Asset Management LLC’s holdings in Cardinal Health were worth $2,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Clearstead Trust LLC purchased a new stake in Cardinal Health during the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new stake in shares of Cardinal Health in the 4th quarter worth $30,000. Hexagon Capital Partners LLC raised its holdings in Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Cardinal Health during the fourth quarter valued at $36,000. Finally, Altshuler Shaham Ltd bought a new stake in Cardinal Health during the fourth quarter valued at about $46,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.3 %

NYSE:CAH opened at $98.51 on Monday. The business’s 50-day moving average is $101.95 and its 200 day moving average is $105.03. Cardinal Health, Inc. has a 12 month low of $83.78 and a 12 month high of $116.04. The company has a market capitalization of $23.99 billion, a P/E ratio of 43.78, a P/E/G ratio of 1.12 and a beta of 0.64.

Cardinal Health (NYSE:CAHGet Free Report) last issued 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 for 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 company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.74 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Monday, July 1st. This represents a $2.02 annualized dividend and a yield of 2.05%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is 88.89%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Robert W. Baird dropped their price target on shares of 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 decreased 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 report on Wednesday, May 15th. Wells Fargo & Company dropped their target price 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, Evercore ISI raised their price target on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.57.

View Our Latest Stock Analysis on CAH

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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