Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Raymond James Trust N.A.

Posted by Defense World Staff on Apr 24th, 2023

Raymond James Trust N.A. reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,964 shares of the company’s stock after selling 255 shares during the quarter. Raymond James Trust N.A.’s holdings in Cardinal Health were worth $535,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Panagora Asset Management Inc. grew its position in Cardinal Health by 53.6% during the 1st quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock worth $1,452,000 after purchasing an additional 8,935 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Cardinal Health by 4.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,071 shares of the company’s stock worth $2,102,000 after purchasing an additional 1,702 shares during the last quarter. Cibc World Market Inc. purchased a new position in Cardinal Health during the 1st quarter worth $212,000. Blair William & Co. IL grew its position in Cardinal Health by 6.7% during the 1st quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock worth $667,000 after purchasing an additional 734 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Cardinal Health by 6.4% in the first quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock valued at $26,792,000 after acquiring an additional 28,568 shares in the last quarter. 88.93% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of CAH opened at $80.08 on Monday. The company has a market capitalization of $20.63 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.28 and a beta of 0.74. The company’s 50 day simple moving average is $75.77 and its 200 day simple moving average is $76.33. Cardinal Health, Inc. has a 1 year low of $49.70 and a 1 year high of $81.57.

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

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, April 15th. Shareholders of record on Monday, April 3rd were paid a dividend of $0.4957 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, March 31st. Cardinal Health’s dividend payout ratio is currently 36.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports 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 research note on Friday, February 3rd. Morgan Stanley boosted their price target on shares of Cardinal Health from $86.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Citigroup assumed coverage on shares of Cardinal Health in a research note on Friday, March 31st. They set a “neutral” rating and a $77.00 price target on the stock. UBS Group boosted their price target on shares of Cardinal Health from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Finally, StockNews.com assumed coverage on shares of Cardinal Health in a research note on Thursday, March 16th. They set a “strong-buy” rating on the stock. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.08.

About Cardinal Health

(Get Rating)

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.

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

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.