Worldquant Millennium Advisors LLC Purchases 258,541 Shares of Cardinal Health, Inc. (NYSE:CAH)

Worldquant Millennium Advisors LLC lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 77.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 593,007 shares of the company's stock after buying an additional 258,541 shares during the period. Worldquant Millennium Advisors LLC owned about 0.25% of Cardinal Health worth $65,539,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CAH. CWM LLC boosted its stake in shares of Cardinal Health by 2.8% in the 2nd quarter. CWM LLC now owns 12,500 shares of the company's stock valued at $1,229,000 after purchasing an additional 345 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Cardinal Health during the second quarter valued at about $135,000. Gateway Investment Advisers LLC increased its holdings in shares of Cardinal Health by 16.2% in the second quarter. Gateway Investment Advisers LLC now owns 5,565 shares of the company's stock worth $547,000 after buying an additional 774 shares during the period. Peak Financial Advisors LLC increased its holdings in shares of Cardinal Health by 9.4% in the second quarter. Peak Financial Advisors LLC now owns 27,370 shares of the company's stock worth $2,691,000 after buying an additional 2,343 shares during the period. Finally, Mirador Capital Partners LP boosted its holdings in Cardinal Health by 5.0% during the 2nd quarter. Mirador Capital Partners LP now owns 12,451 shares of the company's stock valued at $1,224,000 after acquiring an additional 597 shares during the period. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $0.08 during mid-day trading on Friday, hitting $122.76. 1,561,308 shares of the stock traded hands, compared to its average volume of 2,103,614. The stock has a fifty day moving average price of $116.03 and a 200-day moving average price of $107.39. The company has a market cap of $29.71 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.54 and a beta of 0.61. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.23.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the firm earned $1.73 EPS. The company's revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. Cardinal Health's payout ratio is currently 39.30%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CAH shares. StockNews.com downgraded Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 3rd. Wells Fargo & Company upped their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an "underweight" rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Argus upped their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.58.

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.