Rehmann Capital Advisory Group grew its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 676.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607 shares of the company’s stock after buying an additional 1,400 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Cardinal Health were worth $77,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Andra AP fonden bought a new stake in shares of Cardinal Health in the 1st quarter valued at about $5,662,000. Bank of New York Mellon Corp grew its stake in Cardinal Health by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 8,119,896 shares of the company’s stock valued at $362,149,000 after buying an additional 290,620 shares during the last quarter. Bremer Bank National Association acquired a new position in shares of Cardinal Health during the 1st quarter worth approximately $27,000. Jacobs Levy Equity Management Inc. grew its position in shares of Cardinal Health by 5.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 555,163 shares of the company’s stock worth $26,731,000 after purchasing an additional 26,570 shares in the last quarter. Finally, Conning Inc. grew its position in shares of Cardinal Health by 4.0% during the 1st quarter. Conning Inc. now owns 493,352 shares of the company’s stock worth $23,755,000 after purchasing an additional 18,770 shares in the last quarter. 88.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CAH stock traded down $0.67 during trading hours on Friday, hitting $47.59. 2,413,087 shares of the company’s stock traded hands, compared to its average volume of 2,377,316. The firm has a 50 day moving average price of $45.38. The stock has a market cap of $14.18 billion, a PE ratio of 9.52, a PEG ratio of 1.48 and a beta of 1.26. Cardinal Health Inc has a 12 month low of $42.01 and a 12 month high of $58.31. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.22.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.4811 per share. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 annualized dividend and a dividend yield of 4.04%. Cardinal Health’s dividend payout ratio is 38.40%.
A number of brokerages have issued reports on CAH. Zacks Investment Research lowered shares of Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. ValuEngine raised shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Wolfe Research assumed coverage on shares of Iqvia in a report on Tuesday, April 2nd. They set a “market perform” rating for the company. Finally, Guggenheim assumed coverage on shares of Patterson Companies in a research note on Wednesday, April 17th. They issued a “neutral” rating and a $23.00 price objective for the company. Three investment 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 company currently has an average rating of “Hold” and a consensus price target of $56.20.
About Cardinal Health
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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