Azimuth Capital Investment Management LLC Lowers Stake in Cardinal Health, Inc. (NYSE:CAH)

Azimuth Capital Investment Management LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 11.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 24,550 shares of the company’s stock after selling 3,223 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Cardinal Health were worth $2,475,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new position in Cardinal Health during the 4th quarter worth $209,000. Mather Group LLC. grew its position in Cardinal Health by 2.5% during the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after purchasing an additional 164 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Cardinal Health by 86.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after purchasing an additional 32,250 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Cardinal Health by 50.5% in the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after acquiring an additional 61,933 shares in the last quarter. Finally, Vest Financial LLC boosted its holdings in shares of Cardinal Health by 15.9% in the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock valued at $28,470,000 after acquiring an additional 38,769 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CAH shares. Argus lowered their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Robert W. Baird reduced their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. SVB Leerink started coverage on shares of Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.57.

View Our Latest Report on Cardinal Health

Cardinal Health Trading Down 0.3 %

CAH traded down $0.29 on Friday, hitting $98.51. 1,650,747 shares of the company’s stock were exchanged, compared to its average volume of 2,194,860. The stock has a fifty day moving average of $102.21 and a two-hundred day moving average of $105.09. Cardinal Health, Inc. has a twelve month low of $83.78 and a twelve month high of $116.04. The firm has a market cap of $23.99 billion, a PE ratio of 43.78, a P/E/G ratio of 1.11 and a beta of 0.64.

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

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.5056 dividend. 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. This represents a $2.02 annualized dividend and a dividend yield of 2.05%. Cardinal Health’s dividend payout ratio (DPR) is 88.89%.

Cardinal Health Company 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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