Wells Fargo & Company MN Sells 1,562 Shares of Cardinal Health, Inc. (NYSE:CAH)

Wells Fargo & Company MN lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 539,026 shares of the company’s stock after selling 1,562 shares during the quarter. Wells Fargo & Company MN’s holdings in Cardinal Health were worth $41,435,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CAH. Delta Asset Management LLC TN acquired a new position in shares of Cardinal Health during the 4th quarter worth about $25,000. SJS Investment Consulting Inc. lifted its position in shares of Cardinal Health by 888.6% during the 4th quarter. SJS Investment Consulting Inc. now owns 346 shares of the company’s stock worth $27,000 after purchasing an additional 311 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth about $36,000. Boyd Watterson Asset Management LLC OH acquired a new position in shares of Cardinal Health during the 4th quarter worth about $40,000. Finally, JDM Financial Group LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth about $47,000. Institutional investors own 88.93% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $86.77 on Friday. The firm’s fifty day moving average price is $82.43 and its two-hundred day moving average price is $78.66. The stock has a market cap of $22.09 billion, a PE ratio of 49.87, a PEG ratio of 1.21 and a beta of 0.76. Cardinal Health, Inc. has a fifty-two week low of $49.70 and a fifty-two week high of $87.13.

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Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.26. Cardinal Health had a net margin of 0.23% and a negative return on equity of 81.55%. The company had revenue of $50.50 billion for the quarter, compared to analysts’ expectations of $49.63 billion. During the same quarter in the previous year, the firm posted $1.45 earnings per share. Cardinal Health’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 5.71 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Monday, July 3rd will be issued a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, June 30th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is currently 113.79%.

Analysts Set New Price Targets

Several research firms have commented on CAH. StockNews.com initiated coverage on Cardinal Health in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $88.00 to $90.00 in a report on Monday, May 8th. Citigroup initiated coverage on Cardinal Health in a report on Friday, March 31st. They issued a “neutral” rating and a $77.00 target price for the company. Mizuho increased their target price on Cardinal Health from $76.00 to $85.00 in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on Cardinal Health from $90.00 to $93.00 in a report on Friday. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of “Hold” and an average target price of $87.00.

About Cardinal Health

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Cardinal Health, Inc operates as an integrated 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.