Franklin Resources Inc. lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 142,653 shares of the company's stock after selling 8,532 shares during the period. Franklin Resources Inc. owned 0.06% of Cardinal Health worth $16,872,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Summit Financial LLC bought a new position in Cardinal Health in the 4th quarter worth about $241,000. Meeder Asset Management Inc. grew its holdings in Cardinal Health by 85,274.1% in the 4th quarter. Meeder Asset Management Inc. now owns 72,568 shares of the company's stock worth $8,583,000 after buying an additional 72,483 shares in the last quarter. Wellington Management Group LLP increased its position in Cardinal Health by 687.0% in the 4th quarter. Wellington Management Group LLP now owns 134,951 shares of the company's stock valued at $15,961,000 after acquiring an additional 117,803 shares during the period. Partners in Financial Planning bought a new stake in Cardinal Health during the 4th quarter valued at $256,000. Finally, Summit Securities Group LLC acquired a new position in Cardinal Health during the 4th quarter worth $698,000. Institutional investors and hedge funds own 87.17% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently weighed in on CAH. Mizuho lifted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target for the company in a research note on Tuesday, January 7th. Wells Fargo & Company raised their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upped their target price on Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, Citigroup lifted their price target on Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and an average price target of $140.86.
Check Out Our Latest Stock Report on Cardinal Health
Cardinal Health Stock Performance
CAH traded up $2.77 during trading on Friday, reaching $131.65. The company had a trading volume of 2,168,139 shares, compared to its average volume of 2,179,592. The firm's 50-day simple moving average is $129.33 and its 200 day simple moving average is $122.39. The company has a market cap of $31.80 billion, a price-to-earnings ratio of 24.56, 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.
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%. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.
Cardinal Health Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.54%. Cardinal Health's dividend payout ratio is 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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