Pendal Group Ltd acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,995 shares of the company’s stock, valued at approximately $615,000.
Several other institutional investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its holdings in Cardinal Health by 29.5% during the third quarter. Capital Advisors Ltd. LLC now owns 589 shares of the company’s stock worth $39,000 after purchasing an additional 134 shares during the last quarter. Lumature Wealth Partners LLC boosted its stake in shares of Cardinal Health by 3.6% in the 3rd quarter. Lumature Wealth Partners LLC now owns 4,461 shares of the company’s stock worth $297,000 after buying an additional 156 shares during the last quarter. Avidian Wealth Solutions LLC grew its holdings in shares of Cardinal Health by 1.9% in the third quarter. Avidian Wealth Solutions LLC now owns 8,878 shares of the company’s stock valued at $592,000 after acquiring an additional 165 shares in the last quarter. Allworth Financial LP increased its position in shares of Cardinal Health by 21.5% during the fourth quarter. Allworth Financial LP now owns 943 shares of the company’s stock valued at $72,000 after acquiring an additional 167 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its holdings in Cardinal Health by 11.7% during the third quarter. Financial Gravity Asset Management Inc. now owns 1,742 shares of the company’s stock worth $2,909,000 after acquiring an additional 182 shares during the period. Institutional investors own 88.93% of the company’s stock.
Cardinal Health Price Performance
Shares of CAH stock opened at $74.60 on Thursday. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.12 and a beta of 0.76. The company’s fifty day simple moving average is $75.20 and its two-hundred day simple moving average is $74.92. Cardinal Health, Inc. has a 1 year low of $49.70 and a 1 year high of $81.57.
Cardinal Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 15th. Stockholders of record on Monday, April 3rd will be given a $0.4957 dividend. The ex-dividend date is Friday, March 31st. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.66%. Cardinal Health’s dividend payout ratio (DPR) is currently 36.33%.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Cardinal Health from $82.00 to $77.00 and set a “hold” rating for the company in a research note on Wednesday, March 22nd. StockNews.com initiated coverage on shares of Cardinal Health in a report on Thursday, March 16th. They set a “strong-buy” rating for the company. Morgan Stanley boosted their target price on shares of Cardinal Health from $86.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Credit Suisse Group raised their price target on shares of Cardinal Health from $89.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Finally, Robert W. Baird raised shares of Cardinal Health from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $87.00 to $94.00 in a report on Friday, February 3rd. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $80.33.
About Cardinal Health
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.
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