Prudential PLC Trims Holdings in Cardinal Health, Inc. (NYSE:CAH)

Prudential PLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,099 shares of the company's stock after selling 5,778 shares during the quarter. Prudential PLC's holdings in Cardinal Health were worth $4,979,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CAH. Landscape Capital Management L.L.C. raised its position in Cardinal Health by 446.7% during the fourth quarter. Landscape Capital Management L.L.C. now owns 12,996 shares of the company's stock worth $1,537,000 after acquiring an additional 10,619 shares in the last quarter. ExodusPoint Capital Management LP increased its stake in shares of Cardinal Health by 25.9% during the 4th quarter. ExodusPoint Capital Management LP now owns 201,791 shares of the company's stock worth $23,866,000 after purchasing an additional 41,554 shares during the last quarter. World Investment Advisors raised its holdings in shares of Cardinal Health by 14.0% in the 4th quarter. World Investment Advisors now owns 2,825 shares of the company's stock valued at $334,000 after purchasing an additional 348 shares during the period. Cinctive Capital Management LP lifted its stake in Cardinal Health by 353.4% in the 4th quarter. Cinctive Capital Management LP now owns 144,122 shares of the company's stock valued at $17,045,000 after purchasing an additional 112,333 shares during the last quarter. Finally, Huntington National Bank grew its holdings in Cardinal Health by 1.2% during the fourth quarter. Huntington National Bank now owns 10,920 shares of the company's stock worth $1,292,000 after purchasing an additional 128 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

A number of research firms recently weighed in on CAH. Jefferies Financial Group upgraded 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. Bank of America increased their price objective on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research report on Friday. Morgan Stanley lifted their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Evercore ISI upgraded 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 note on Tuesday, January 7th. Finally, TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and raised their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and an average price target of $140.86.

Cardinal Health Stock Up 2.1 %

CAH traded up $2.77 during midday trading on Friday, hitting $131.65. The company had a trading volume of 2,168,139 shares, compared to its average volume of 2,179,592. The stock's 50 day moving average price is $129.33 and its 200 day moving average price is $122.39. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $139.50. The company has a market capitalization 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 (NYSE:CAH - Get Free Report) last released its quarterly earnings data 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%. Research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is currently 37.69%.

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.