Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,377 shares of the company’s stock after selling 229 shares during the quarter. Ritholtz Wealth Management’s holdings in Cardinal Health were worth $3,910,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Flputnam Investment Management Co. boosted its holdings in shares of Cardinal Health by 1.8% in the 4th quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock valued at $21,358,000 after buying an additional 3,148 shares in the last quarter. Huntington National Bank boosted its stake in Cardinal Health by 1.2% in the fourth quarter. Huntington National Bank now owns 10,920 shares of the company’s stock valued at $1,292,000 after acquiring an additional 128 shares in the last quarter. Fisher Asset Management LLC acquired a new position in Cardinal Health in the fourth quarter valued at $368,000. Vontobel Holding Ltd. grew its holdings in shares of Cardinal Health by 31.4% during the fourth quarter. Vontobel Holding Ltd. now owns 67,519 shares of the company’s stock worth $7,985,000 after purchasing an additional 16,125 shares during the last quarter. Finally, Truist Financial Corp increased its position in shares of Cardinal Health by 29.5% during the fourth quarter. Truist Financial Corp now owns 108,486 shares of the company’s stock worth $12,831,000 after purchasing an additional 24,732 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Cardinal Health stock opened at $161.28 on Monday. The stock’s 50 day moving average price is $146.04 and its 200 day moving average price is $132.76. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $162.94. The company has a market cap of $38.49 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 1st. The company reported $2.35 EPS 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 company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter last year, the company earned $2.08 earnings per share. Cardinal Health’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 31.83%.

Analyst Ratings Changes

A number of research firms recently issued reports on CAH. Bank of America raised their price target on Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 5th. Evercore ISI upped their price target on shares of Cardinal Health from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird increased their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Mizuho lifted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Cardinal Health Company Profile

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.