Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Provence Wealth Management Group

Provence Wealth Management Group lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,312 shares of the company’s stock after selling 530 shares during the quarter. Provence Wealth Management Group’s holdings in Cardinal Health were worth $233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Ameriprise Financial Inc. grew its position in Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after buying an additional 1,862,291 shares during the period. California Public Employees Retirement System grew its position in shares of Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after purchasing an additional 823,520 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $464,800,000. Deutsche Bank AG grew its position in shares of Cardinal Health by 64.9% in the third quarter. Deutsche Bank AG now owns 1,027,670 shares of the company’s stock valued at $89,222,000 after purchasing an additional 404,609 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Cardinal Health by 17.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock valued at $264,052,000 after purchasing an additional 389,431 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the topic of several research analyst reports. SVB Leerink initiated coverage on shares of Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price on the stock. UBS Group lifted their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Robert W. Baird lowered their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Friday. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Finally, StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.79.

Cardinal Health Trading Down 4.0 %

CAH stock traded down $4.07 during trading on Friday, reaching $98.91. 3,446,183 shares of the stock were exchanged, compared to its average volume of 2,028,678. The business has a 50 day moving average price of $109.10 and a 200-day moving average price of $105.01. Cardinal Health, Inc. has a 1 year low of $77.56 and a 1 year high of $116.04. The firm has a market capitalization of $24.06 billion, a price-to-earnings ratio of 43.96, a P/E/G ratio of 1.03 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same period in the previous year, the firm earned $1.74 earnings per share. Cardinal Health’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.34 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is 88.89%.

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.