Iowa State Bank Acquires 727 Shares of Cardinal Health, Inc. (NYSE:CAH)

Iowa State Bank increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,626 shares of the company’s stock after acquiring an additional 727 shares during the quarter. Iowa State Bank’s holdings in Cardinal Health were worth $3,591,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CAH. Cornerstone Planning Group LLC bought a new stake in Cardinal Health during the third quarter worth $26,000. Stonebridge Capital Advisors LLC bought a new stake in Cardinal Health during the second quarter worth $29,000. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter valued at $30,000. Retirement Group LLC raised its stake in shares of Cardinal Health by 1,539.3% in the fourth quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after buying an additional 431 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter valued at $41,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

Cardinal Health stock traded down $0.85 during midday trading on Tuesday, hitting $111.21. 1,620,096 shares of the company’s stock were exchanged, compared to its average volume of 2,383,879. Cardinal Health, Inc. has a 52-week low of $75.49 and a 52-week high of $116.04. The stock has a 50-day moving average price of $108.89 and a two-hundred day moving average price of $102.60. The company has a market cap of $27.05 billion, a P/E ratio of 43.78, a PEG ratio of 1.08 and a beta of 0.68.

Cardinal Health (NYSE:CAHGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. During the same period in the previous year, the business earned $1.32 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.29 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, March 28th. Cardinal Health’s payout ratio is currently 78.74%.

Wall Street Analysts Forecast Growth

CAH has been the topic of several research reports. TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. UBS Group boosted their target price on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Wells Fargo & Company began coverage on Cardinal Health in a research report on Thursday, December 14th. They issued an “underweight” rating and a $96.00 price target for the company. Finally, SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.07.

Check Out Our Latest Research Report on Cardinal Health

About Cardinal Health

(Free Report)

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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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