Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Truist Financial Corp

Truist Financial Corp grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 29.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,486 shares of the company's stock after acquiring an additional 24,732 shares during the quarter. Truist Financial Corp's holdings in Cardinal Health were worth $12,831,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Raymond James & Associates lifted its holdings in Cardinal Health by 7.4% in the 3rd quarter. Raymond James & Associates now owns 309,960 shares of the company's stock worth $34,257,000 after purchasing an additional 21,414 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Cardinal Health by 36.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 254,631 shares of the company's stock worth $28,142,000 after purchasing an additional 68,382 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Cardinal Health by 39.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 7,670 shares of the company's stock worth $848,000 after acquiring an additional 2,178 shares during the last quarter. Signaturefd LLC increased its stake in Cardinal Health by 18.7% in the 3rd quarter. Signaturefd LLC now owns 2,701 shares of the company's stock worth $298,000 after acquiring an additional 425 shares during the last quarter. Finally, Eastern Bank bought a new stake in Cardinal Health in the 3rd quarter worth approximately $25,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CAH shares. Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective on the stock in a research note on Tuesday, January 7th. StockNews.com downgraded Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 3rd. Morgan Stanley boosted their target price on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and boosted their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Finally, UBS Group boosted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a "buy" rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $136.87.

Cardinal Health Stock Performance

Cardinal Health stock traded down $0.42 during midday trading on Friday, hitting $126.96. 2,354,573 shares of the company were exchanged, compared to its average volume of 2,342,976. The firm has a market capitalization of $30.67 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84. The business has a fifty day simple moving average of $123.45 and a two-hundred day simple moving average of $116.88.

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

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given 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 yield of 1.59%. Cardinal Health's dividend payout ratio is currently 37.69%.

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.