Allspring Global Investments Holdings LLC Acquires 83,975 Shares of Cardinal Health, Inc. (NYSE:CAH)

Allspring Global Investments Holdings LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 379.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,105 shares of the company’s stock after purchasing an additional 83,975 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cardinal Health were worth $11,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CAH. Miracle Mile Advisors LLC bought a new stake in shares of Cardinal Health during the 1st quarter worth $225,000. Diversified Trust Co lifted its stake in Cardinal Health by 210.2% during the first quarter. Diversified Trust Co now owns 23,720 shares of the company’s stock worth $2,654,000 after purchasing an additional 16,074 shares during the last quarter. Mirador Capital Partners LP boosted its holdings in shares of Cardinal Health by 5.8% in the 1st quarter. Mirador Capital Partners LP now owns 11,854 shares of the company’s stock worth $1,326,000 after purchasing an additional 646 shares in the last quarter. Financial Management Professionals Inc. increased its position in shares of Cardinal Health by 12.5% during the 1st quarter. Financial Management Professionals Inc. now owns 1,073 shares of the company’s stock valued at $120,000 after purchasing an additional 119 shares during the last quarter. Finally, Transform Wealth LLC lifted its position in Cardinal Health by 2.6% in the 1st quarter. Transform Wealth LLC now owns 26,659 shares of the company’s stock worth $2,997,000 after buying an additional 685 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CAH shares. 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 research report on Friday, May 3rd. Robert W. Baird lowered their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company lowered their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Finally, Argus reduced their price target 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. One research 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 company has a consensus rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Trading Up 1.0 %

Shares of Cardinal Health stock opened at $96.88 on Tuesday. 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 $23.60 billion, a P/E ratio of 43.06, a PEG ratio of 1.06 and a beta of 0.61. The company’s fifty day simple moving average is $99.06 and its two-hundred day simple moving average is $104.29.

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

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.5056 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 2.09%. Cardinal Health’s dividend payout ratio is 89.78%.

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.