Van ECK Associates Corp Decreases Stake in Cardinal Health, Inc. (NYSE:CAH)

Van ECK Associates Corp cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,068 shares of the company’s stock after selling 928 shares during the quarter. Van ECK Associates Corp’s holdings in Cardinal Health were worth $3,674,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Kentucky Trust Co acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $41,000. Community Bank & Trust Waco Texas lifted its position in Cardinal Health by 4.3% during the fourth quarter. Community Bank & Trust Waco Texas now owns 5,409 shares of the company’s stock worth $640,000 after buying an additional 225 shares in the last quarter. JSF Financial LLC acquired a new position in Cardinal Health during the fourth quarter worth $967,000. Essex Financial Services Inc. purchased a new stake in Cardinal Health in the 4th quarter valued at $213,000. Finally, Angeles Wealth Management LLC acquired a new stake in shares of Cardinal Health in the 4th quarter worth $205,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAH shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Barclays increased their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Morgan Stanley increased their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.87.

Cardinal Health Price Performance

NYSE CAH opened at $126.63 on Thursday. The company has a market cap of $30.59 billion, a P/E ratio of 23.63, a P/E/G ratio of 1.48 and a beta of 0.63. The stock has a 50-day moving average of $123.25 and a two-hundred day moving average of $116.81. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

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.