Sector Gamma AS Reduces Stake in Cardinal Health, Inc. (NYSE:CAH)

Sector Gamma AS reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,000 shares of the company's stock after selling 29,098 shares during the period. Cardinal Health accounts for approximately 3.6% of Sector Gamma AS's investment portfolio, making the stock its 11th biggest position. Sector Gamma AS's holdings in Cardinal Health were worth $10,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. State Street Corp raised its stake in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company's stock worth $1,566,913,000 after buying an additional 627,253 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock worth $633,298,000 after acquiring an additional 42,082 shares during the period. Pacer Advisors Inc. raised its position in shares of Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company's stock worth $474,203,000 after acquiring an additional 191,568 shares in the last quarter. Amundi lifted its stake in shares of Cardinal Health by 5.5% in the 4th quarter. Amundi now owns 2,116,291 shares of the company's stock valued at $259,309,000 after purchasing an additional 110,605 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Cardinal Health by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company's stock valued at $179,653,000 after purchasing an additional 44,386 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

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Cardinal Health Price Performance

CAH stock traded down $0.35 during midday trading on Tuesday, reaching $132.86. The company had a trading volume of 2,122,562 shares, compared to its average volume of 1,974,163. The company has a market capitalization of $32.09 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $133.67. The firm has a 50-day moving average price of $127.78 and a 200-day moving average price of $120.38.

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, topping 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%. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

CAH has been the subject of several research analyst reports. Evercore ISI upgraded shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and upped their target price for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Mizuho started coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $139.00 price objective on the stock. Finally, TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average price target of $139.36.

Cardinal Health Company 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.