Piedmont Investment Advisors Inc. bought a new stake in Cardinal Health Inc (NYSE:CAH) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,797 shares of the company’s stock, valued at approximately $231,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in CAH. WP Advisors LLC purchased a new stake in Cardinal Health during the first quarter valued at about $26,000. Transamerica Financial Advisors Inc. acquired a new position in Cardinal Health in the fourth quarter worth approximately $32,000. CNB Bank acquired a new position in Cardinal Health during the fourth quarter valued at approximately $36,000. Farmers National Bank acquired a new position in Cardinal Health during the first quarter valued at approximately $43,000. Finally, American Research & Management Co. acquired a new position in Cardinal Health during the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 88.50% of the company’s stock.
Several equities analysts have commented on the company. ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Thursday, May 9th. Guggenheim began coverage on Cardinal Health in a report on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price objective for the company. Zacks Investment Research cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, Wolfe Research assumed coverage on Cardinal Health in a report on Tuesday, April 2nd. They issued an “underperform” rating for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $56.20.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 9th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.16. The business had revenue of $35.23 billion for the quarter, compared to the consensus estimate of $35.09 billion. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS. Equities analysts forecast that Cardinal Health Inc will post 5.1 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.4811 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.92 annualized dividend and a yield of 4.09%. Cardinal Health’s payout ratio is presently 38.20%.
Cardinal Health Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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