Greylin Investment Management Inc Has $2.65 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Greylin Investment Management Inc lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,722 shares of the company’s stock after selling 4,360 shares during the quarter. Greylin Investment Management Inc’s holdings in Cardinal Health were worth $2,654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after purchasing an additional 1,862,291 shares during the period. Northern Trust Corp boosted its stake in shares of Cardinal Health by 0.9% during the 3rd quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock worth $290,026,000 after acquiring an additional 28,412 shares during the period. Pacer Advisors Inc. increased its holdings in shares of 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 acquiring an additional 389,431 shares during the last quarter. Norges Bank bought a new stake in Cardinal Health in the 4th quarter valued at $258,499,000. Finally, AQR Capital Management LLC lifted its holdings 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 valued at $216,749,000 after purchasing an additional 19,287 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CAH shares. Robert W. Baird decreased their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Evercore ISI increased their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Argus decreased their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.57.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded down $0.21 on Thursday, hitting $96.11. The stock had a trading volume of 2,058,950 shares, compared to its average volume of 2,220,479. The stock has a 50 day moving average of $105.03 and a 200 day moving average of $105.47. Cardinal Health, Inc. has a twelve month low of $80.90 and a twelve month high of $116.04. The firm has a market capitalization of $23.41 billion, a P/E ratio of 42.72, a PEG ratio of 1.09 and a beta of 0.71.

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

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.5056 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 annualized dividend and a yield of 2.10%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is presently 88.89%.

Cardinal Health 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.