Bank of New York Mellon Corp Has $190.39 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Bank of New York Mellon Corp lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,609,797 shares of the company’s stock after selling 46,822 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.67% of Cardinal Health worth $190,391,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its position in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after acquiring an additional 627,253 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Cardinal Health by 4.7% during the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after purchasing an additional 191,568 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after buying an additional 33,388 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in Cardinal Health by 47.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after buying an additional 346,362 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of research reports. Mizuho began coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Morgan Stanley raised their target price on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $139.36.

Cardinal Health Stock Performance

Shares of CAH opened at $127.22 on Friday. The firm has a market cap of $30.73 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The business’s 50 day moving average price is $124.52 and its two-hundred day moving average price is $117.85.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (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%. Research analysts predict 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. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. 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.