Canada Pension Plan Investment Board Sells 49,240 Shares of Cardinal Health, Inc. (NYSE:CAH)

Canada Pension Plan Investment Board cut its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,132 shares of the company's stock after selling 49,240 shares during the period. Canada Pension Plan Investment Board owned approximately 0.09% of Cardinal Health worth $25,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Barclays PLC boosted its holdings in shares of Cardinal Health by 8.2% during the 3rd quarter. Barclays PLC now owns 707,404 shares of the company's stock worth $78,183,000 after buying an additional 53,851 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Cardinal Health in the third quarter worth $846,000. Franklin Resources Inc. grew its holdings in Cardinal Health by 6.6% in the third quarter. Franklin Resources Inc. now owns 151,185 shares of the company's stock worth $16,918,000 after purchasing an additional 9,385 shares during the period. Oddo BHF Asset Management Sas acquired a new position in shares of Cardinal Health during the third quarter valued at about $497,000. Finally, Copley Financial Group Inc. acquired a new stake in shares of Cardinal Health in the 3rd quarter valued at about $507,000. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAH. TD Cowen upgraded Cardinal Health from a "hold" rating to a "buy" rating and increased their price target for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Citigroup lifted their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Argus set a $148.00 price objective on shares of Cardinal Health in a report on Tuesday, February 4th. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target on the stock in a research report on Tuesday, January 7th. Finally, Bank of America increased their price objective on Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Four 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.86.

Cardinal Health Price Performance

Shares of CAH traded up $0.66 during mid-day trading on Wednesday, hitting $134.35. The stock had a trading volume of 2,196,611 shares, compared to its average volume of 2,187,495. The firm has a market cap of $32.45 billion, a P/E ratio of 25.07, a PEG ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $139.50. The business has a fifty day moving average price of $130.24 and a 200-day moving average price of $123.54.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping 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 expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Tuesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is presently 37.69%.

About Cardinal Health

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.