Wesbanco Bank Inc. Has $439,000 Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Posted by on Mar 28th, 2023

Wesbanco Bank Inc. grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,705 shares of the company’s stock after buying an additional 932 shares during the quarter. Wesbanco Bank Inc.’s holdings in Cardinal Health were worth $439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CAH. Quadrature Capital Ltd purchased a new position in Cardinal Health during the third quarter worth about $1,732,000. Penserra Capital Management LLC purchased a new position in Cardinal Health during the third quarter worth about $887,000. Naples Global Advisors LLC boosted its holdings in Cardinal Health by 3.1% during the third quarter. Naples Global Advisors LLC now owns 17,620 shares of the company’s stock worth $1,183,000 after purchasing an additional 535 shares during the last quarter. KMG Fiduciary Partners LLC boosted its holdings in Cardinal Health by 6.7% during the fourth quarter. KMG Fiduciary Partners LLC now owns 66,645 shares of the company’s stock worth $5,123,000 after purchasing an additional 4,158 shares during the last quarter. Finally, Exeter Financial LLC boosted its holdings in Cardinal Health by 1.2% during the third quarter. Exeter Financial LLC now owns 18,898 shares of the company’s stock worth $1,260,000 after purchasing an additional 219 shares during the last quarter. 88.93% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Up 1.2 %

NYSE CAH opened at $71.24 on Tuesday. The company’s 50 day moving average is $75.39 and its 200-day moving average is $74.90. Cardinal Health, Inc. has a 12-month low of $49.70 and a 12-month high of $81.57. The firm has a market cap of $18.35 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.12 and a beta of 0.76.

Cardinal Health (NYSE:CAH – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. The company had revenue of $51.47 billion for the quarter, compared to analyst estimates of $50.03 billion. Cardinal Health had a negative net margin of 0.66% and a negative return on equity of 101.28%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Equities analysts expect that Cardinal Health, Inc. will post 5.42 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Investors of record on Monday, April 3rd will be issued a dividend of $0.4957 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, March 31st. Cardinal Health’s dividend payout ratio (DPR) is presently 36.33%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Robert W. Baird upgraded shares of Cardinal Health from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $87.00 to $94.00 in a report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Cardinal Health from $82.00 to $77.00 and set a “hold” rating on the stock in a report on Wednesday, March 22nd. Morgan Stanley lifted their price objective on shares of Cardinal Health from $86.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. StockNews.com began coverage on shares of Cardinal Health in a research report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Finally, UBS Group lifted their price objective on shares of Cardinal Health from $78.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Hold” and an average target price of $80.33.

Cardinal Health Company Profile

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Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.

See Also

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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