Chevy Chase Trust Holdings LLC Sells 4,219 Shares of Cardinal Health, Inc. $CAH

Chevy Chase Trust Holdings LLC reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 3.3% during the 3rd quarter, Holdings Channel reports. The fund owned 122,046 shares of the company’s stock after selling 4,219 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Cardinal Health were worth $19,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its position in Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the last quarter. Norges Bank bought a new stake in shares of Cardinal Health during the second quarter worth $584,420,000. Barclays PLC increased its stake in shares of Cardinal Health by 109.3% in the third quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock valued at $248,658,000 after buying an additional 827,446 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Cardinal Health by 476.8% in the second quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock valued at $148,402,000 after buying an additional 730,209 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Cardinal Health by 44.9% in the third quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after buying an additional 707,495 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, November 18th. Argus upped their target price on shares of Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Evercore increased their price target on shares of Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. Finally, Mizuho raised their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Price Performance

NYSE CAH opened at $217.65 on Tuesday. The firm has a market cap of $51.22 billion, a P/E ratio of 31.32, a P/E/G ratio of 1.40 and a beta of 0.65. The stock’s 50-day moving average is $217.07 and its 200-day moving average is $192.98. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $233.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. During the same period in the previous year, the firm earned $1.93 EPS. Cardinal Health’s quarterly revenue was up 18.8% compared to the same quarter last year. Equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is 29.35%.

About Cardinal Health

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.