44 Wealth Management LLC Increases Holdings in Cardinal Health, Inc. (NYSE:CAH)

by · The Cerbat Gem

44 Wealth Management LLC increased its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,286 shares of the company’s stock after purchasing an additional 1,304 shares during the quarter. Cardinal Health makes up about 1.0% of 44 Wealth Management LLC’s portfolio, making the stock its 25th biggest position. 44 Wealth Management LLC’s holdings in Cardinal Health were worth $2,657,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Cardinal Health by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company’s stock valued at $691,145,000 after purchasing an additional 109,273 shares in the last quarter. Invesco Ltd. lifted its holdings in Cardinal Health by 4.6% during the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company’s stock worth $376,396,000 after buying an additional 140,368 shares during the period. Marshall Wace LLP lifted its holdings in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock worth $372,756,000 after buying an additional 1,913,892 shares during the period. Northern Trust Corp boosted its position in Cardinal Health by 16.2% during the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company’s stock valued at $359,286,000 after acquiring an additional 422,755 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cardinal Health by 4.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company’s stock worth $274,599,000 after acquiring an additional 94,768 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Robert W. Baird boosted their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Wells Fargo & Company raised shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $136.00 to $179.00 in a research report on Tuesday, June 3rd. UBS Group raised their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Mizuho upped their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Finally, Evercore ISI reiterated an “outperform” rating and set a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.43.

Get Our Latest Stock Analysis on CAH

Cardinal Health Stock Performance

Shares of CAH stock opened at $164.80 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $168.44. The firm has a market capitalization of $39.33 billion, a PE ratio of 25.71, a P/E/G ratio of 1.60 and a beta of 0.68. The stock’s 50-day simple moving average is $155.04 and its 200-day simple moving average is $136.82.

Cardinal Health (NYSE:CAH – Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The firm had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. Cardinal Health’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.24%. Cardinal Health’s payout ratio is currently 31.83%.

Cardinal Health Company Profile

(Free Report)

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.

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