Kepler Cheuvreux Suisse SA decreased its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 32.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 154,647 shares of the company’s stock after selling 72,928 shares during the period. Cardinal Health makes up approximately 2.2% of Kepler Cheuvreux Suisse SA’s holdings, making the stock its 11th biggest position. Kepler Cheuvreux Suisse SA’s holdings in Cardinal Health were worth $32,675,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of CAH. Aventura Private Wealth LLC acquired a new stake in Cardinal Health during the fourth quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Cardinal Health during the 4th quarter worth approximately $26,000. Bank of Jackson Hole Trust purchased a new stake in Cardinal Health in the 4th quarter valued at $27,000. Jones Financial Companies Lllp raised its holdings in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. Finally, Palladiem LLC bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $28,000. Institutional investors own 87.17% of the company’s stock.
Cardinal Health Stock Performance
CAH stock opened at $238.79 on Friday. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $240.93. The stock has a fifty day moving average of $208.99 and a 200-day moving average of $211.70. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 1.17 and a beta of 0.49.
Cardinal Health Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.5158 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 31.50%.
Analyst Ratings Changes
CAH has been the subject of a number of research analyst reports. Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. reduced their price objective on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Robert W. Baird set a $248.00 target price on Cardinal Health in a research report on Friday, May 1st. Leerink Partners reiterated an “outperform” rating and set a $275.00 target price on shares of Cardinal Health in a research note on Monday, March 9th. Finally, Evercore cut their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $247.80.
Cardinal Health Profile
Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.
The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.
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