US Bancorp DE Sells 3,448 Shares of Cardinal Health, Inc. $CAH

US Bancorp DE reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,037 shares of the company’s stock after selling 3,448 shares during the period. US Bancorp DE’s holdings in Cardinal Health were worth $6,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. Vanguard Group Inc. grew its stake in Cardinal Health by 0.8% during the third quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock worth $4,838,054,000 after purchasing an additional 247,667 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cardinal Health by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after buying an additional 205,539 shares in the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $584,420,000. Invesco Ltd. grew its position in shares of Cardinal Health by 7.3% during the 2nd quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock worth $510,347,000 after buying an additional 207,750 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Cardinal Health by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after acquiring an additional 45,812 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CAH. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $190.00 to $244.00 in a research note on Friday, January 9th. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Argus boosted their price objective on Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Leerink Partners upped their target price on Cardinal Health from $240.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Barclays lifted their price target on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.20.

Cardinal Health Trading Up 0.8%

Shares of NYSE:CAH opened at $228.85 on Monday. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $230.81. The stock has a market cap of $53.85 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65. The stock’s fifty day simple moving average is $214.08 and its two-hundred day simple moving average is $187.49.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, sell-side analysts forecast 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 Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 29.35%.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.