Hancock Whitney Corp cut its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,915 shares of the company’s stock after selling 298 shares during the quarter. Hancock Whitney Corp’s holdings in Cardinal Health were worth $2,778,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Howard Wealth Management LLC bought a new position in Cardinal Health during the fourth quarter valued at approximately $34,000. NuWave Investment Management LLC grew its position in Cardinal Health by 358.1% during the third quarter. NuWave Investment Management LLC now owns 765 shares of the company’s stock valued at $35,000 after acquiring an additional 598 shares during the last quarter. Sugarloaf Wealth Management LLC bought a new position in Cardinal Health during the fourth quarter valued at approximately $35,000. Jacobi Capital Management LLC raised its position in shares of Cardinal Health by 42.1% in the 4th quarter. Jacobi Capital Management LLC now owns 743 shares of the company’s stock worth $38,000 after purchasing an additional 220 shares during the last quarter. Finally, Usca Ria LLC purchased a new position in shares of Cardinal Health in the 3rd quarter worth about $42,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CAH opened at $59.62 on Friday. The company has a debt-to-equity ratio of 6.73, a current ratio of 1.03 and a quick ratio of 0.48. The stock has a market capitalization of $17.33 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.80 and a beta of 1.36. Cardinal Health Inc has a 1-year low of $41.03 and a 1-year high of $60.69. The business has a fifty day moving average price of $53.26 and a 200 day moving average price of $50.10.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.4811 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, March 31st. Cardinal Health’s dividend payout ratio is 36.36%.
CAH has been the subject of several research analyst reports. Mizuho lifted their price objective on Cardinal Health from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Robert W. Baird upgraded Cardinal Health from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $54.00 to $68.00 in a report on Friday, February 7th. Morgan Stanley upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $48.00 to $64.00 in a report on Wednesday. Guggenheim downgraded Cardinal Health from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Finally, ValuEngine downgraded Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.88.
Cardinal Health Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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