Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,570 shares of the company's stock after purchasing an additional 3,800 shares during the period. Treasurer of the State of North Carolina owned about 0.06% of Cardinal Health worth $17,571,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Cardinal Health in the fourth quarter worth $246,748,000. Bank of Nova Scotia raised its stake in Cardinal Health by 1,142.4% in the 4th quarter. Bank of Nova Scotia now owns 545,313 shares of the company's stock valued at $64,494,000 after purchasing an additional 501,421 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Cardinal Health in the 4th quarter valued at about $45,115,000. Renaissance Group LLC boosted its stake in shares of Cardinal Health by 4,375.6% during the 4th quarter. Renaissance Group LLC now owns 265,044 shares of the company's stock worth $31,347,000 after purchasing an additional 259,122 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Cardinal Health by 55.2% during the fourth quarter. Federated Hermes Inc. now owns 578,367 shares of the company's stock worth $68,403,000 after buying an additional 205,818 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE CAH traded up $0.29 on Wednesday, reaching $134.54. The company had a trading volume of 3,124,425 shares, compared to its average volume of 2,560,587. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.50. The firm has a 50-day moving average of $129.62 and a 200-day moving average of $122.74. The firm has a market capitalization of $32.50 billion, a PE ratio of 25.10, a P/E/G ratio of 1.49 and a beta of 0.61.

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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 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, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is currently 37.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CAH shares. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and raised their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. TD Cowen upgraded Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target on the stock in a research note on Tuesday, January 7th. Citigroup upped their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Finally, Bank of America increased their price objective on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.