Wells Fargo & Company MN Increases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Wells Fargo & Company MN grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 514,240 shares of the company’s stock after buying an additional 24,627 shares during the period. Wells Fargo & Company MN owned 0.21% of Cardinal Health worth $51,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its holdings in Cardinal Health by 82.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after buying an additional 1,862,291 shares during the last quarter. Northern Trust Corp increased its position in shares of Cardinal Health by 0.9% during the third quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock worth $290,026,000 after purchasing an additional 28,412 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Cardinal Health by 17.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock worth $264,052,000 after purchasing an additional 389,431 shares in the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health during the fourth quarter worth about $258,499,000. Finally, AQR Capital Management LLC increased its position in shares of Cardinal Health by 0.8% during the third quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock worth $216,749,000 after purchasing an additional 19,287 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAH. Evercore ISI lifted their target price on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. UBS Group lifted their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Finally, Robert W. Baird dropped their price target on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have given 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.57.

Cardinal Health Trading Up 0.4 %

NYSE CAH opened at $96.39 on Friday. The business’s 50 day moving average is $104.75 and its two-hundred day moving average is $105.45. Cardinal Health, Inc. has a 12-month low of $80.90 and a 12-month high of $116.04. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 1.09 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.5056 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. This represents a $2.02 annualized dividend and a dividend yield of 2.10%. Cardinal Health’s payout ratio is 88.89%.

About Cardinal Health

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.