Allianz Asset Management GmbH Decreases Stake in Cardinal Health, Inc. (NYSE:CAH)

Allianz Asset Management GmbH cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 958,051 shares of the company’s stock after selling 124,463 shares during the quarter. Allianz Asset Management GmbH owned about 0.40% of Cardinal Health worth $113,309,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Eastern Bank acquired a new position in shares of Cardinal Health during the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC grew its stake in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares during the period. Hara Capital LLC purchased a new stake in shares of Cardinal Health in the 3rd quarter valued at approximately $31,000. AM Squared Ltd purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at approximately $33,000. Finally, Kentucky Trust Co purchased a new stake in shares of Cardinal Health during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Citigroup increased their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Morgan Stanley lifted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.87.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $126.96 on Friday. The business has a 50-day simple moving average of $123.62 and a 200-day simple moving average of $117.08. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The company has a market cap of $30.67 billion, a PE ratio of 23.69, a P/E/G ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 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.