Cardinal Health, Inc. (NYSE:CAH) Position Cut by American International Group Inc.

American International Group Inc. trimmed its stake in Cardinal Health, Inc. (NYSE:CAHFree Report) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 65,732 shares of the company’s stock after selling 2,808 shares during the quarter. American International Group Inc.’s holdings in Cardinal Health were worth $6,626,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new stake in shares of Cardinal Health during the fourth quarter valued at about $25,000. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health during the fourth quarter valued at about $30,000. Hexagon Capital Partners LLC raised its stake in shares of Cardinal Health by 53.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Cardinal Health during the fourth quarter valued at about $36,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of Cardinal Health during the fourth quarter valued at about $46,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Up 0.3 %

Shares of CAH opened at $98.84 on Tuesday. The business’s 50-day moving average price is $101.68 and its 200 day moving average price is $104.98. The stock has a market capitalization of $24.07 billion, a P/E ratio of 43.93, a P/E/G ratio of 1.12 and a beta of 0.64. Cardinal Health, Inc. has a 1-year low of $85.11 and a 1-year high of $116.04.

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

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Monday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is 89.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 28th. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. SVB Leerink initiated coverage on shares of Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target on the stock. Wells Fargo & Company dropped their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Finally, Robert W. Baird dropped their price target on shares of 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.57.

Check Out Our Latest Stock Report on Cardinal Health

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

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