Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 46.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,708 shares of the company's stock after selling 68,844 shares during the quarter. Intech Investment Management LLC's holdings in Cardinal Health were worth $9,427,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Promus Capital LLC purchased a new stake in shares of Cardinal Health in the fourth quarter valued at about $30,000. Kentucky Trust Co purchased a new stake in shares of Cardinal Health in the fourth quarter valued at about $41,000. HHM Wealth Advisors LLC grew its holdings in shares of Cardinal Health by 57.6% in 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 period. Raleigh Capital Management Inc. grew its holdings in shares of Cardinal Health by 29.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company's stock valued at $55,000 after purchasing an additional 106 shares during the period. Finally, Quarry LP grew its holdings in shares of Cardinal Health by 541.7% in the third quarter. Quarry LP now owns 616 shares of the company's stock valued at $68,000 after purchasing an additional 520 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of CAH traded down $1.29 during mid-day trading on Friday, hitting $131.80. 5,709,521 shares of the company's stock were exchanged, compared to its average volume of 1,974,154. The company has a market cap of $31.84 billion, a price-to-earnings ratio of 24.59, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $133.67. The stock's 50-day moving average is $127.35 and its 200-day moving average is $120.00.

Remove Ads

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, 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%. As a group, 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. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.53%. Cardinal Health's payout ratio is currently 37.69%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CAH shares. TD Cowen raised shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Citigroup upped their target price 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. Bank of America raised shares of Cardinal Health from a "neutral" rating to a "buy" rating and upped their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Finally, Argus set a $148.00 target price on shares of Cardinal Health in a research report 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.36.

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.