Diversified Trust Co Sells 9,459 Shares of Cardinal Health, Inc. (NYSE:CAH)

Diversified Trust Co decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 40.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,748 shares of the company’s stock after selling 9,459 shares during the period. Diversified Trust Co’s holdings in Cardinal Health were worth $1,894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Flputnam Investment Management Co. boosted its position in shares of Cardinal Health by 1.8% during the 4th quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock valued at $21,358,000 after purchasing an additional 3,148 shares in the last quarter. Huntington National Bank boosted its holdings in Cardinal Health by 1.2% in the fourth quarter. Huntington National Bank now owns 10,920 shares of the company’s stock worth $1,292,000 after acquiring an additional 128 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Cardinal Health by 17.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company’s stock worth $429,000 after acquiring an additional 457 shares in the last quarter. Fisher Asset Management LLC bought a new position in Cardinal Health in the fourth quarter worth approximately $368,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock worth $1,811,000 after acquiring an additional 2,694 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley set a $181.00 price target on Cardinal Health and gave the stock an “overweight” rating in a report on Friday, June 13th. Wells Fargo & Company upgraded Cardinal Health from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Evercore ISI reissued an “outperform” rating and issued a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. UBS Group increased their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Robert W. Baird increased their price objective on Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

Cardinal Health Trading Up 1.0%

Shares of CAH opened at $167.18 on Friday. The company has a market capitalization of $39.90 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.85 and a beta of 0.66. The stock has a 50 day moving average of $152.57 and a 200 day moving average of $135.52. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $168.17.

Cardinal Health (NYSE:CAH) last issued its quarterly 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. The company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. Cardinal Health’s revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $2.08 earnings per share. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 31.51%.

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.