Aviva PLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 56.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 145,821 shares of the company's stock after selling 188,088 shares during the quarter. Aviva PLC owned about 0.06% of Cardinal Health worth $17,246,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. KCM Investment Advisors LLC increased its holdings in Cardinal Health by 5.3% in the 4th quarter. KCM Investment Advisors LLC now owns 16,390 shares of the company's stock valued at $1,938,000 after buying an additional 820 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in shares of Cardinal Health during the fourth quarter worth approximately $11,724,000. Islay Capital Management LLC increased its stake in shares of Cardinal Health by 591.2% in the 4th quarter. Islay Capital Management LLC now owns 6,394 shares of the company's stock valued at $756,000 after buying an additional 5,469 shares during the period. Wells Fargo & Company MN increased its position in Cardinal Health by 1.5% in the fourth quarter. Wells Fargo & Company MN now owns 571,918 shares of the company's stock worth $67,641,000 after purchasing an additional 8,611 shares during the period. Finally, Landscape Capital Management L.L.C. grew its position in shares of Cardinal Health by 446.7% during the 4th quarter. Landscape Capital Management L.L.C. now owns 12,996 shares of the company's stock worth $1,537,000 after buying an additional 10,619 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have recently issued reports on CAH shares. Morgan Stanley raised 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. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Bank of America raised their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Friday. Wells Fargo & Company upped their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th. Finally, Argus set a $148.00 price target on shares of Cardinal Health in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and a consensus price target of $140.86.
Read Our Latest Research Report on Cardinal Health
Cardinal Health Price Performance
Cardinal Health stock traded up $2.77 during midday trading on Friday, hitting $131.65. The company's stock had a trading volume of 2,168,139 shares, compared to its average volume of 2,182,169. The company has a market cap of $31.80 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $139.50. The company has a 50-day moving average price of $129.33 and a two-hundred day moving average price of $122.48.
Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $1.93 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%. Sell-side analysts forecast 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. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.54%. 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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