Edgestream Partners L.P. Reduces Holdings in Cardinal Health, Inc. (NYSE:CAH)

Edgestream Partners L.P. cut its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 86.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,247 shares of the company's stock after selling 13,926 shares during the quarter. Edgestream Partners L.P.'s holdings in Cardinal Health were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings 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 buying an additional 191,568 shares during the last quarter. ProShare Advisors LLC boosted its stake in Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company's stock valued at $172,974,000 after acquiring an additional 85,247 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company's stock valued at $165,517,000 after acquiring an additional 111,137 shares during the period. American Century Companies Inc. increased its stake in shares of Cardinal Health by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 1,610,968 shares of the company's stock worth $158,390,000 after purchasing an additional 242,608 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company's stock worth $162,976,000 after purchasing an additional 33,388 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 0.1 %

NYSE:CAH traded down $0.08 during trading hours on Friday, hitting $122.76. 1,583,924 shares of the company's stock traded hands, compared to its average volume of 2,228,541. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.23. The business's fifty day simple moving average is $116.29 and its two-hundred day simple moving average is $107.64. The firm has a market cap of $29.71 billion, a P/E ratio of 23.88, a P/E/G ratio of 1.57 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health's revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.73 earnings per share. On average, analysts expect that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CAH shares. Barclays raised their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. UBS Group boosted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st. StockNews.com lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 3rd. Finally, Argus raised their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.