Federated Hermes Inc. Has $68.40 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Federated Hermes Inc. lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 55.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 578,367 shares of the company’s stock after buying an additional 205,818 shares during the period. Federated Hermes Inc.’s holdings in Cardinal Health were worth $68,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new position in Cardinal Health during the fourth quarter worth $26,000. Promus Capital LLC bought a new position in shares of Cardinal Health in the 4th quarter valued at approximately $30,000. Lee Danner & Bass Inc. acquired a new stake in Cardinal Health in the 4th quarter worth approximately $35,000. Kentucky Trust Co bought a new stake in Cardinal Health during the fourth quarter worth approximately $41,000. Finally, HHM Wealth Advisors LLC grew its holdings in Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH stock opened at $129.37 on Monday. The stock has a market cap of $31.25 billion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The stock has a fifty day moving average price of $129.15 and a 200 day moving average price of $121.69. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $139.50.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.56%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analyst Ratings Changes

CAH has been the subject of several recent analyst reports. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Tuesday, January 7th. Argus set a $148.00 price objective on Cardinal Health in a research report on Tuesday, February 4th. JPMorgan Chase & Co. increased their target price on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley lifted their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.14.

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.