OLD National Bancorp IN Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

OLD National Bancorp IN cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 29.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,540 shares of the company’s stock after selling 5,282 shares during the period. OLD National Bancorp IN’s holdings in Cardinal Health were worth $1,264,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Aaron Wealth Advisors LLC boosted its position in shares of Cardinal Health by 1.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock valued at $844,000 after buying an additional 97 shares during the last quarter. Schechter Investment Advisors LLC boosted its position in shares of Cardinal Health by 4.1% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock valued at $250,000 after buying an additional 98 shares during the last quarter. Cypress Capital Group boosted its position in shares of Cardinal Health by 0.7% during the third quarter. Cypress Capital Group now owns 17,133 shares of the company’s stock valued at $1,487,000 after buying an additional 111 shares during the last quarter. MBM Wealth Consultants LLC boosted its position in Cardinal Health by 3.7% in the third quarter. MBM Wealth Consultants LLC now owns 3,238 shares of the company’s stock worth $302,000 after purchasing an additional 115 shares during the last quarter. Finally, Monument Capital Management boosted its position in Cardinal Health by 3.0% in the third quarter. Monument Capital Management now owns 4,639 shares of the company’s stock worth $403,000 after purchasing an additional 136 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CAH shares. Barclays started coverage on Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price on the stock. TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. UBS Group raised their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Finally, Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Trading Up 0.5 %

Shares of CAH opened at $103.37 on Wednesday. The business’s 50 day moving average is $109.56 and its 200 day moving average is $104.60. The company has a market capitalization of $25.14 billion, a PE ratio of 40.70, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a 12-month low of $77.56 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. The company had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $1.32 EPS. Equities research analysts predict that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is presently 78.74%.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.