Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 47.7% in the first quarter, HoldingsChannel.com reports. The firm owned 262,257 shares of the company’s stock after selling 239,468 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Cardinal Health were worth $29,347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAH. Kestra Advisory Services LLC grew its holdings in Cardinal Health by 20.6% during the third quarter. Kestra Advisory Services LLC now owns 16,411 shares of the company’s stock worth $1,425,000 after acquiring an additional 2,798 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Cardinal Health by 22.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 558,756 shares of the company’s stock worth $48,511,000 after purchasing an additional 102,481 shares in the last quarter. Mariner LLC lifted its stake in Cardinal Health by 1.3% during the third quarter. Mariner LLC now owns 48,068 shares of the company’s stock valued at $4,173,000 after purchasing an additional 640 shares during the last quarter. Stifel Financial Corp grew its position in Cardinal Health by 4.7% in the third quarter. Stifel Financial Corp now owns 202,706 shares of the company’s stock worth $17,599,000 after buying an additional 9,058 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Cardinal Health by 269.8% in the third quarter. Federated Hermes Inc. now owns 253,335 shares of the company’s stock valued at $21,995,000 after buying an additional 184,823 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CAH shares. Robert W. Baird decreased their target price on 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 lifted their price target 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. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 28th. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Finally, Wells Fargo & Company reduced their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Stock Up 0.2 %

Shares of Cardinal Health stock traded up $0.25 on Monday, hitting $104.88. 2,284,984 shares of the company traded hands, compared to its average volume of 2,203,083. Cardinal Health, Inc. has a 12-month low of $85.11 and a 12-month high of $116.04. The company has a market cap of $25.55 billion, a PE ratio of 46.50, a PEG ratio of 1.18 and a beta of 0.64. The company has a 50-day moving average price of $100.44 and a 200 day moving average price of $104.69.

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

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is presently 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.