Cardinal Health, Inc. (NYSE:CAH) Stock Position Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Cardinal Health, Inc. (NYSE:CAHGet Rating) by 12.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 386,952 shares of the company’s stock after acquiring an additional 43,601 shares during the quarter. Principal Financial Group Inc.’s holdings in Cardinal Health were worth $20,226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. grew its position in Cardinal Health by 5.0% in the 1st quarter. BlackRock Inc. now owns 23,108,919 shares of the company’s stock valued at $1,310,275,000 after buying an additional 1,109,613 shares in the last quarter. State Street Corp grew its position in Cardinal Health by 2.1% in the 1st quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after buying an additional 457,777 shares in the last quarter. Invesco Ltd. grew its position in Cardinal Health by 9.0% in the 1st quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after buying an additional 511,826 shares in the last quarter. ProShare Advisors LLC grew its position in Cardinal Health by 2.8% in the 1st quarter. ProShare Advisors LLC now owns 3,098,173 shares of the company’s stock valued at $175,667,000 after buying an additional 84,919 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Cardinal Health by 53.1% in the 1st quarter. Federated Hermes Inc. now owns 2,758,050 shares of the company’s stock valued at $156,381,000 after buying an additional 956,502 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at Cardinal Health

In other news, insider Ola M. Snow sold 19,590 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $78.87, for a total value of $1,545,063.30. Following the transaction, the insider now owns 31,187 shares in the company, valued at approximately $2,459,718.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CAH. Morgan Stanley upped their price target on shares of Cardinal Health from $76.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, November 7th. Barclays upped their price target on shares of Cardinal Health to $67.00 in a report on Monday, August 15th. Cowen upped their price target on shares of Cardinal Health from $59.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, August 16th. UBS Group upped their price target on shares of Cardinal Health from $61.00 to $78.00 and gave the company a “buy” rating in a report on Monday, August 29th. Finally, Mizuho upped their price target on shares of Cardinal Health from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, November 14th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.09.

Cardinal Health Trading Up 0.1 %

CAH stock opened at $77.72 on Tuesday. Cardinal Health, Inc. has a one year low of $45.85 and a one year high of $81.57. The firm has a market capitalization of $20.37 billion, a PE ratio of 12.70, a P/E/G ratio of 1.32 and a beta of 0.80. The firm has a 50-day moving average of $71.78 and a two-hundred day moving average of $63.47.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Tuesday, January 3rd will be paid a dividend of $0.4957 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Friday, December 30th. Cardinal Health’s dividend payout ratio is presently 32.35%.

Cardinal Health Profile

(Get Rating)

Cardinal Health, Inc operates as an integrated 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.

Recommended Stories

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAHGet Rating).

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.