Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 299,861 shares of the company’s stock after acquiring an additional 5,939 shares during the period. Principal Financial Group Inc. owned 0.12% of Cardinal Health worth $35,465,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Eastern Bank purchased a new position in shares of Cardinal Health during the 3rd quarter worth approximately $25,000. Frazier Financial Advisors LLC grew its holdings in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC purchased a new position in Cardinal Health in the third quarter worth $31,000. AM Squared Ltd acquired a new stake in Cardinal Health in the third quarter valued at $33,000. Finally, Kentucky Trust Co acquired a new stake in Cardinal Health in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $145.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.87.

Cardinal Health Trading Down 0.3 %

Shares of CAH stock opened at $126.96 on Friday. The company has a market capitalization of $30.67 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.49 and a beta of 0.63. The firm has a 50-day moving average price of $123.62 and a 200 day moving average price of $117.08. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share 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%. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.59%. Cardinal Health’s payout ratio is currently 37.69%.

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.