JPMorgan Chase & Co. Cuts Position in Cardinal Health, Inc. (NYSE:CAH)

JPMorgan Chase & Co. trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.7% during the 4th quarter, Holdings Channel reports. The fund owned 2,982,009 shares of the company’s stock after selling 20,748 shares during the period. JPMorgan Chase & Co.’s holdings in Cardinal Health were worth $352,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cyrus J. Lawrence LLC purchased a new stake in Cardinal Health during the fourth quarter valued at $26,000. Promus Capital LLC purchased a new stake in shares of Cardinal Health during the 4th quarter valued at about $30,000. Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health in the 4th quarter valued at about $35,000. Kentucky Trust Co bought a new stake in Cardinal Health during the fourth quarter worth approximately $41,000. Finally, HHM Wealth Advisors LLC raised its position in Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after purchasing an additional 144 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of recent research reports. Wells Fargo & Company lifted their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” 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 company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Morgan Stanley lifted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Mizuho began coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Finally, Citigroup boosted their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Trading Down 0.2 %

CAH opened at $136.43 on Monday. The company has a market capitalization of $32.96 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $137.18. The business’s fifty day simple moving average is $128.36 and its 200-day simple moving average is $120.86.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 EPS 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, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.48%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

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.