OLD Republic International Corp Has $56.41 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

OLD Republic International Corp lowered its holdings in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 19.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 846,000 shares of the company’s stock after selling 206,000 shares during the quarter. Cardinal Health accounts for about 1.9% of OLD Republic International Corp’s investment portfolio, making the stock its 22nd largest position. OLD Republic International Corp owned about 0.32% of Cardinal Health worth $56,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. BlackRock Inc. grew its holdings in Cardinal Health by 25.9% in the 3rd quarter. BlackRock Inc. now owns 28,680,859 shares of the company’s stock valued at $1,912,437,000 after buying an additional 5,896,875 shares during the last quarter. Amundi grew its holdings in shares of Cardinal Health by 880.8% during the 2nd quarter. Amundi now owns 5,043,836 shares of the company’s stock worth $272,619,000 after purchasing an additional 4,529,560 shares in the last quarter. Nomura Holdings Inc. grew its holdings in shares of Cardinal Health by 13,599.0% during the 3rd quarter. Nomura Holdings Inc. now owns 2,719,672 shares of the company’s stock worth $181,445,000 after purchasing an additional 2,699,819 shares in the last quarter. Elliott Investment Management L.P. acquired a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $133,360,000. Finally, Marshall Wace LLP grew its holdings in shares of Cardinal Health by 6,373.0% during the 3rd quarter. Marshall Wace LLP now owns 1,259,640 shares of the company’s stock worth $83,994,000 after purchasing an additional 1,240,180 shares in the last quarter. Institutional investors and hedge funds own 88.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CAH. Robert W. Baird raised Cardinal Health from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $87.00 to $94.00 in a report on Friday, February 3rd. StockNews.com started coverage on Cardinal Health in a report on Thursday. They set a “strong-buy” rating on the stock. Credit Suisse Group boosted their price target on Cardinal Health from $89.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Morgan Stanley boosted their price target on Cardinal Health from $86.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Finally, UBS Group boosted their price target on Cardinal Health from $78.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $80.64.

Cardinal Health Stock Performance

Shares of CAH opened at $69.82 on Thursday. The stock has a fifty day moving average price of $76.49 and a two-hundred day moving average price of $74.91. Cardinal Health, Inc. has a 52-week low of $49.70 and a 52-week high of $81.57. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.14 and a beta of 0.76.

Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. Cardinal Health had a negative return on equity of 101.28% and a negative net margin of 0.66%. The firm had revenue of $51.47 billion during the quarter, compared to the consensus estimate of $50.03 billion. During the same quarter in the previous year, the company posted $1.27 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 5.42 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Stockholders of record on Monday, April 3rd will be given a dividend of $0.4957 per share. The ex-dividend date of this dividend is Friday, March 31st. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.84%. Cardinal Health’s payout ratio is currently 36.33%.

Cardinal Health Profile

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Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.