Envestnet Asset Management Inc. Sells 32,334 Shares of Cardinal Health, Inc. (NYSE:CAH)

Envestnet Asset Management Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 600,822 shares of the company's stock after selling 32,334 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of Cardinal Health worth $71,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Cardinal Health by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock worth $691,145,000 after buying an additional 109,273 shares during the last quarter. Amundi grew its holdings in Cardinal Health by 5.5% during the 4th quarter. Amundi now owns 2,116,291 shares of the company's stock worth $259,309,000 after acquiring an additional 110,605 shares during the period. Norges Bank bought a new position in shares of Cardinal Health in the 4th quarter worth about $246,748,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Cardinal Health by 3.0% in 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 during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Cardinal Health by 4.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 972,060 shares of the company's stock valued at $114,966,000 after purchasing an additional 39,767 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lifted their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Wells Fargo & Company lifted their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Morgan Stanley boosted their target price on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Argus set a $148.00 price target on Cardinal Health in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $140.86.

Cardinal Health Price Performance

NYSE CAH traded down $0.52 during mid-day trading on Tuesday, reaching $134.26. The stock had a trading volume of 733,403 shares, compared to its average volume of 2,177,488. The company has a fifty day moving average price of $129.48 and a 200 day moving average price of $122.66. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.50. The stock has a market cap of $32.43 billion, a PE ratio of 25.05, a price-to-earnings-growth 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 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 expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. 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 1.51%. Cardinal Health's dividend payout ratio is currently 37.69%.

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.