Federated Hermes Inc. Acquires 14,606 Shares of Cardinal Health, Inc. (NYSE:CAH)

Federated Hermes Inc. boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 267,941 shares of the company’s stock after buying an additional 14,606 shares during the quarter. Federated Hermes Inc. owned approximately 0.11% of Cardinal Health worth $27,008,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its position in shares of Cardinal Health by 0.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 27,436 shares of the company’s stock valued at $2,765,000 after acquiring an additional 178 shares during the period. Latitude Advisors LLC increased its position in Cardinal Health by 6.2% in the fourth quarter. Latitude Advisors LLC now owns 2,512 shares of the company’s stock worth $253,000 after buying an additional 146 shares in the last quarter. Scissortail Wealth Management LLC bought a new position in shares of Cardinal Health in the fourth quarter worth about $314,000. HealthInvest Partners AB purchased a new position in shares of Cardinal Health during the 4th quarter valued at about $4,838,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cardinal Health by 7.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 270,927 shares of the company’s stock valued at $27,309,000 after acquiring an additional 19,151 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent analyst reports. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. UBS Group upped their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Finally, SVB Leerink assumed coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.07.

Get Our Latest Research Report on CAH

Cardinal Health Stock Performance

NYSE CAH opened at $108.19 on Friday. The stock has a 50 day moving average price of $109.59 and a 200-day moving average price of $104.30. Cardinal Health, Inc. has a one year low of $77.56 and a one year high of $116.04. The company has a market capitalization of $26.32 billion, a P/E ratio of 42.59, a P/E/G ratio of 1.02 and a beta of 0.68.

Cardinal Health (NYSE:CAHGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same quarter in the prior year, the firm earned $1.32 earnings per share. Cardinal Health’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.85%. Cardinal Health’s dividend payout ratio is currently 78.74%.

Cardinal Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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