Allspring Global Investments Holdings LLC Boosts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Allspring Global Investments Holdings LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 36.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,631 shares of the company’s stock after acquiring an additional 68,382 shares during the period. Allspring Global Investments Holdings LLC owned about 0.10% of Cardinal Health worth $28,142,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CAH. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health in the 2nd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the second quarter valued at approximately $29,000. LRI Investments LLC purchased a new position in shares of Cardinal Health during the first quarter worth approximately $32,000. Palisade Asset Management LLC acquired a new position in shares of Cardinal Health in the 1st quarter valued at $34,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Cardinal Health during the 1st quarter worth $40,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the topic of a number of recent research reports. Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. UBS Group boosted their target price on Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Robert W. Baird boosted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.18.

Cardinal Health Stock Down 0.3 %

NYSE:CAH opened at $111.92 on Thursday. The firm’s fifty day simple moving average is $111.42 and its 200-day simple moving average is $103.94. The stock has a market cap of $27.26 billion, a PE ratio of 49.74, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a fifty-two week low of $90.19 and a fifty-two week high of $116.05.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts anticipate that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.506 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.81%. Cardinal Health’s payout ratio is currently 89.78%.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by corporate insiders.

Cardinal Health 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.