Arrowstreet Capital Limited Partnership lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 77.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 695,922 shares of the company's stock after selling 2,382,566 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.29% of Cardinal Health worth $82,307,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $246,748,000. State Street Corp boosted its stake in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company's stock valued at $1,566,913,000 after purchasing an additional 627,253 shares during the period. Raymond James Financial Inc. bought a new position in shares of Cardinal Health in the fourth quarter worth approximately $45,115,000. Two Sigma Advisers LP increased its stake in shares of Cardinal Health by 47.9% in the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company's stock worth $118,197,000 after buying an additional 346,362 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its holdings in Cardinal Health by 77.3% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company's stock valued at $65,539,000 after buying an additional 258,541 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.
Analyst Upgrades and Downgrades
CAH has been the topic of a number of analyst reports. Mizuho boosted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday. Morgan Stanley boosted their price target on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Evercore ISI upgraded Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective 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. Finally, TD Cowen upgraded Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.14.
Check Out Our Latest Report on CAH
Cardinal Health Stock Performance
Shares of CAH stock traded down $1.71 on Thursday, reaching $136.96. The stock had a trading volume of 4,061,900 shares, compared to its average volume of 2,116,501. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.39. The stock has a market cap of $33.09 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The company has a 50 day simple moving average of $128.98 and a 200 day simple moving average of $121.33.
Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal 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 dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's payout ratio is 37.69%.
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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