Federated Hermes Inc. Boosts Position in Cardinal Health, Inc. (NYSE:CAH)

Federated Hermes Inc. grew its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 55.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 578,367 shares of the company's stock after acquiring an additional 205,818 shares during the quarter. Federated Hermes Inc. owned about 0.24% of Cardinal Health worth $68,403,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in Cardinal Health during the 4th quarter valued at $685,000. Wedbush Securities Inc. bought a new stake in Cardinal Health during the 4th quarter valued at about $550,000. Sit Investment Associates Inc. boosted its position in Cardinal Health by 81.2% in the 4th quarter. Sit Investment Associates Inc. now owns 92,735 shares of the company's stock valued at $10,968,000 after buying an additional 41,545 shares during the period. KCM Investment Advisors LLC grew its stake in Cardinal Health by 5.3% in the 4th quarter. KCM Investment Advisors LLC now owns 16,390 shares of the company's stock worth $1,938,000 after acquiring an additional 820 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Cardinal Health during the fourth quarter worth approximately $11,724,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded up $2.77 on Friday, hitting $131.65. The company's stock had a trading volume of 2,168,139 shares, compared to its average volume of 2,179,592. The company has a market capitalization of $31.80 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The firm has a fifty day moving average price of $129.33 and a 200-day moving average price of $122.39. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.50.

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Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio is presently 37.69%.

Analysts Set New Price Targets

Several brokerages have weighed in on CAH. Evercore ISI upgraded Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price for the company in a report on Tuesday, January 7th. Mizuho raised their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Finally, Morgan Stanley raised their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus target price of $140.86.

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.