Massachusetts Financial Services Co. MA Reduces Stake in Cardinal Health, Inc. (NYSE:CAH)

Massachusetts Financial Services Co. MA lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 85.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,180 shares of the company's stock after selling 36,907 shares during the period. Massachusetts Financial Services Co. MA's holdings in Cardinal Health were worth $731,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Groupama Asset Managment acquired a new position in shares of Cardinal Health during the fourth quarter worth $1,347,000. Headlands Technologies LLC boosted its position in shares of Cardinal Health by 79.6% during the 4th quarter. Headlands Technologies LLC now owns 7,261 shares of the company's stock worth $859,000 after acquiring an additional 3,219 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cardinal Health by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock valued at $691,145,000 after acquiring an additional 109,273 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Cardinal Health by 20.6% in the 4th quarter. National Bank of Canada FI now owns 189,492 shares of the company's stock valued at $22,406,000 after acquiring an additional 32,309 shares during the last quarter. Finally, Summit Financial LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth about $241,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Up 1.0 %

Shares of NYSE CAH traded up $1.33 during mid-day trading on Monday, hitting $133.10. 112,037 shares of the company were exchanged, compared to its average volume of 2,174,176. The firm has a market cap of $32.15 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The stock has a 50 day simple moving average of $129.33 and a 200-day simple moving average of $122.48. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $139.50.

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Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly 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 negative return on equity of 59.57% and a net margin of 0.59%. Analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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 dividend yield of 1.52%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is 37.69%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAH. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and increased their price target for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Morgan Stanley increased their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Bank of America raised their price objective on Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Friday. Finally, TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and boosted their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.86.

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.