Allspring Global Investments Holdings LLC Increases Stake in Cardinal Health, Inc. (NYSE:CAH)

Allspring Global Investments Holdings LLC lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAHGet Rating) by 51.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,914 shares of the company’s stock after acquiring an additional 8,490 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cardinal Health were worth $1,660,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LS Investment Advisors LLC purchased a new position in shares of Cardinal Health during the 2nd quarter worth about $27,000. CX Institutional purchased a new position in Cardinal Health in the second quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV raised its holdings in Cardinal Health by 102.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 716 shares of the company’s stock valued at $48,000 after buying an additional 363 shares during the period. Allworth Financial LP raised its holdings in Cardinal Health by 29.3% in the third quarter. Allworth Financial LP now owns 776 shares of the company’s stock valued at $52,000 after buying an additional 176 shares during the period. Finally, Private Trust Co. NA raised its holdings in Cardinal Health by 185.0% in the third quarter. Private Trust Co. NA now owns 798 shares of the company’s stock valued at $53,000 after buying an additional 518 shares during the period. 88.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAH has been the topic of several research reports. Mizuho raised 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. Credit Suisse Group raised their price target on shares of Cardinal Health from $64.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, November 22nd. Morgan Stanley lifted their price objective on shares of Cardinal Health from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. Bank Of America (Bofa) upgraded shares of Cardinal Health from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $64.00 to $80.00 in a research note on Friday, November 4th. Finally, Bank of America upgraded shares of Cardinal Health from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $64.00 to $80.00 in a research note on Friday, November 4th. Eight research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.82.

Cardinal Health Trading Up 0.5 %

CAH stock opened at $75.82 on Friday. Cardinal Health, Inc. has a twelve month low of $49.09 and a twelve month high of $81.57. The company has a market capitalization of $19.87 billion, a P/E ratio of 12.39, a PEG ratio of 1.25 and a beta of 0.81. The firm has a 50 day simple moving average of $78.10 and a 200-day simple moving average of $70.64.

Cardinal Health (NYSE:CAHGet Rating) last released its quarterly earnings results on Friday, November 4th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.24. Cardinal Health had a negative net margin of 0.59% and a negative return on equity of 252.82%. The business had revenue of $49.60 billion during the quarter, compared to the consensus estimate of $46.88 billion. On average, research analysts predict that Cardinal Health, Inc. will post 5.28 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Tuesday, January 3rd were issued a $0.4957 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Friday, December 30th. Cardinal Health’s dividend payout ratio is presently 32.35%.

Insiders Place Their Bets

In other Cardinal Health news, insider Ola M. Snow sold 19,590 shares of Cardinal Health stock in a transaction on Monday, November 7th. The shares were sold at an average price of $78.87, for a total value of $1,545,063.30. Following the completion of the transaction, the insider now owns 31,187 shares of the company’s stock, valued at $2,459,718.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

About Cardinal Health

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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.

See Also

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

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