Federated Hermes Inc. Cuts Stake in Cardinal Health, Inc. (NYSE:CAH)

Federated Hermes Inc. lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 14.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,307 shares of the company’s stock after selling 43,746 shares during the quarter. Federated Hermes Inc. owned 0.11% of Cardinal Health worth $25,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CAH. J. W. Coons Advisors LLC lifted its stake in shares of Cardinal Health by 0.6% in the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after buying an additional 100 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC lifted its position in Cardinal Health by 5.0% in the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after acquiring an additional 100 shares in the last quarter. Midland Wealth Advisors LLC boosted its stake in Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Cardinal Health by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the subject of several research analyst reports. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. UBS Group boosted their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. 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 assigned a strong buy rating to the company. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the transaction, the chief executive officer now directly owns 244,091 shares in the company, valued at $26,574,187.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.15% of the company’s stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $113.17 on Monday. The stock has a 50-day simple moving average of $103.98 and a two-hundred day simple moving average of $104.02. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05. The firm has a market capitalization of $27.60 billion, a PE ratio of 50.30, a P/E/G ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same period in the prior year, the firm posted $1.55 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.79%. Cardinal Health’s payout ratio is 89.78%.

About Cardinal Health

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.