Atria Wealth Solutions Inc. boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 20.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,992 shares of the company's stock after purchasing an additional 9,837 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Cardinal Health were worth $6,740,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Raymond James & Associates boosted its position in Cardinal Health by 7.4% during the 3rd quarter. Raymond James & Associates now owns 309,960 shares of the company's stock worth $34,257,000 after acquiring an additional 21,414 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cardinal Health by 36.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 254,631 shares of the company's stock valued at $28,142,000 after buying an additional 68,382 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Cardinal Health by 39.7% in the third quarter. Sequoia Financial Advisors LLC now owns 7,670 shares of the company's stock valued at $848,000 after buying an additional 2,178 shares during the period. Signaturefd LLC lifted its stake in Cardinal Health by 18.7% during the third quarter. Signaturefd LLC now owns 2,701 shares of the company's stock valued at $298,000 after buying an additional 425 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Cardinal Health during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 87.17% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on CAH. Morgan Stanley lifted their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. StockNews.com downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 3rd. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Evercore ISI upgraded shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.87.
Get Our Latest Report on CAH
Cardinal Health Stock Performance
Shares of NYSE:CAH traded down $0.02 on Friday, hitting $127.36. 691,935 shares of the company were exchanged, compared to its average volume of 2,292,671. The company's 50 day moving average price is $123.45 and its two-hundred day moving average price is $116.88. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The firm has a market capitalization of $30.77 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.49 and a beta of 0.63.
Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.
Cardinal Health Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's payout ratio is presently 37.69%.
About Cardinal Health
(
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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