Securian Asset Management Inc. Sells 456 Shares of Cardinal Health, Inc. (NYSE:CAH)

Posted by Defense World Staff on Apr 24th, 2023

Securian Asset Management Inc. lowered its stake in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,548 shares of the company’s stock after selling 456 shares during the quarter. Securian Asset Management Inc.’s holdings in Cardinal Health were worth $1,656,000 at the end of the most recent quarter.

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

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $80.08 on Monday. Cardinal Health, Inc. has a 1-year low of $49.70 and a 1-year high of $81.57. The business has a fifty day moving average price of $75.77 and a 200-day moving average price of $76.33. The company has a market capitalization of $20.63 billion, a PE ratio of 14.69, a PEG ratio of 1.28 and a beta of 0.74.

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

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, April 15th. Investors of record on Monday, April 3rd were given a dividend of $0.4957 per share. The ex-dividend date of this dividend was Friday, March 31st. This represents a $1.98 annualized dividend and a dividend yield of 2.48%. Cardinal Health’s dividend payout ratio (DPR) is presently 36.33%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Cardinal Health from $82.00 to $77.00 and set a “hold” rating for the company in a research note on Wednesday, March 22nd. Citigroup assumed coverage on Cardinal Health in a research report on Friday, March 31st. They issued a “neutral” rating and a $77.00 target price for the company. StockNews.com initiated coverage on Cardinal Health in a research note on Thursday, March 16th. They issued a “strong-buy” rating for the company. Credit Suisse Group upped their price target on Cardinal Health from $89.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Finally, Morgan Stanley raised their price objective on Cardinal Health from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Nine 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $80.08.

About Cardinal Health

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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.