Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,285 shares of the company’s stock after selling 28,171 shares during the quarter. Janus Henderson Group PLC owned about 0.12% of Cardinal Health worth $35,398,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Rothschild Investment LLC lifted its holdings in shares of Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock valued at $101,000 after buying an additional 79 shares during the period. Private Trust Co. NA increased its stake in Cardinal Health by 11.0% in the 4th quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after purchasing an additional 92 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Cardinal Health by 2.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after purchasing an additional 93 shares in the last quarter. TIAA Trust National Association increased its stake in Cardinal Health by 4.5% in the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock valued at $258,000 after purchasing an additional 94 shares in the last quarter. Finally, MWA Asset Management increased its stake in Cardinal Health by 2.9% in the 4th quarter. MWA Asset Management now owns 3,324 shares of the company’s stock valued at $393,000 after purchasing an additional 95 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CAH shares. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Morgan Stanley raised their price target on Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. raised their price objective on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America raised their price objective on Cardinal Health from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $146.43.

Cardinal Health Trading Up 0.2%

Shares of Cardinal Health stock opened at $148.55 on Thursday. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $154.07. The stock has a market capitalization of $35.46 billion, a P/E ratio of 27.71, a PEG ratio of 1.49 and a beta of 0.66. The business’s fifty day moving average price is $135.94 and its 200 day moving average price is $127.06.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion for the quarter, compared to analysts’ expectations of $55.33 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Tuesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 31.83%.

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.