Bank of Montreal Can Sells 21,844 Shares of Cardinal Health, Inc. (NYSE:CAH)

Bank of Montreal Can lowered its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,039 shares of the company's stock after selling 21,844 shares during the period. Bank of Montreal Can owned 0.09% of Cardinal Health worth $27,088,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CAH. Cerity Partners LLC lifted its stake in shares of Cardinal Health by 5.9% during the fourth quarter. Cerity Partners LLC now owns 34,920 shares of the company's stock valued at $4,059,000 after acquiring an additional 1,956 shares during the period. Unigestion Holding SA lifted its position in Cardinal Health by 614.4% during the 4th quarter. Unigestion Holding SA now owns 46,510 shares of the company's stock valued at $5,501,000 after purchasing an additional 40,000 shares during the period. Federated Hermes Inc. boosted its stake in shares of Cardinal Health by 55.2% in the 4th quarter. Federated Hermes Inc. now owns 578,367 shares of the company's stock valued at $68,403,000 after purchasing an additional 205,818 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $685,000. Finally, Wedbush Securities Inc. bought a new stake in shares of Cardinal Health during the fourth quarter worth approximately $550,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

CAH traded down $0.54 on Tuesday, hitting $134.24. 1,319,203 shares of the company were exchanged, compared to its average volume of 2,180,007. The stock's fifty day moving average is $129.48 and its 200-day moving average is $122.66. The company has a market cap of $32.43 billion, a PE ratio of 25.03, a PEG ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $139.50.

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Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 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, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 yield of 1.51%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CAH. 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. TD Cowen upgraded Cardinal Health from a "hold" rating to a "buy" rating and upped their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. 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 research report on Tuesday, January 7th. Morgan Stanley increased their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Bank of America boosted their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and an average 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.