Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,962 shares of the company’s stock after selling 300 shares during the period. Romano Brothers AND Company’s holdings in Cardinal Health were worth $1,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of Cardinal Health by 82.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after acquiring an additional 1,862,291 shares in the last quarter. Pacer Advisors Inc. grew its stake in Cardinal Health by 17.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock worth $264,052,000 after buying an additional 389,431 shares during the last quarter. Norges Bank bought a new position in Cardinal Health during the 4th quarter worth $258,499,000. AQR Capital Management LLC grew its stake in Cardinal Health by 0.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock worth $216,749,000 after buying an additional 19,287 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Cardinal Health by 118.9% during the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after buying an additional 823,520 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CAH. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 24th. Robert W. Baird lowered their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Evercore ISI upped their price objective on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Argus lowered their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Wells Fargo & Company lowered their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $109.67.

Cardinal Health Price Performance

Shares of CAH opened at $98.32 on Friday. The firm’s 50 day moving average is $99.88 and its 200-day moving average is $104.51. Cardinal Health, Inc. has a 12-month low of $85.11 and a 12-month high of $116.04. The stock has a market capitalization of $23.95 billion, a P/E ratio of 43.70, a P/E/G ratio of 1.11 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. The firm had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.74 earnings per share. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. Cardinal Health’s dividend payout ratio is currently 88.89%.

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.