Comerica Bank Acquires 20,450 Shares of Cardinal Health, Inc. (NYSE:CAH)

Posted by Defense World Staff on Apr 10th, 2023

Comerica Bank boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 27.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 95,801 shares of the company’s stock after acquiring an additional 20,450 shares during the quarter. Comerica Bank’s holdings in Cardinal Health were worth $7,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased its holdings in shares of Cardinal Health by 888.6% in the fourth quarter. SJS Investment Consulting Inc. now owns 346 shares of the company’s stock valued at $27,000 after purchasing an additional 311 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Cardinal Health in the 3rd quarter valued at $28,000. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at $36,000. Boyd Watterson Asset Management LLC OH bought a new stake in shares of Cardinal Health during the fourth quarter worth $40,000. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of Cardinal Health by 29.5% during the third quarter. Capital Advisors Ltd. LLC now owns 589 shares of the company’s stock valued at $39,000 after acquiring an additional 134 shares during the period. Institutional investors and hedge funds own 88.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com began coverage on Cardinal Health in a report on Thursday, March 16th. They set a “strong-buy” rating for the company. Credit Suisse Group boosted 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. Citigroup initiated coverage on shares of Cardinal Health in a research note on Friday, March 31st. They issued a “neutral” rating and a $77.00 price objective on the stock. Morgan Stanley upped their target price on shares of Cardinal Health from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, Robert W. Baird raised Cardinal Health from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $87.00 to $94.00 in a research note on Friday, February 3rd. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.08.

Cardinal Health Trading Down 0.2 %

NYSE:CAH opened at $79.23 on Monday. Cardinal Health, Inc. has a 1 year low of $49.70 and a 1 year high of $81.57. The stock has a 50-day moving average price of $75.37 and a two-hundred day moving average price of $75.46. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.26 and a beta of 0.74.

Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings data 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 business had revenue of $51.47 billion during the quarter, compared to analyst estimates of $50.03 billion. Cardinal Health had a negative return on equity of 101.28% and a negative net margin of 0.66%. Cardinal Health’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 EPS. Sell-side analysts forecast that Cardinal Health, Inc. will post 5.42 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, March 31st. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.50%. Cardinal Health’s payout ratio is 36.33%.

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.