iA Global Asset Management Inc. Cuts Holdings in Cardinal Health, Inc. (NYSE:CAH)

iA Global Asset Management Inc. decreased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 49.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,940 shares of the company's stock after selling 13,409 shares during the quarter. iA Global Asset Management Inc.'s holdings in Cardinal Health were worth $1,649,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Promus Capital LLC bought a new stake in shares of Cardinal Health during the fourth quarter worth $30,000. Kentucky Trust Co bought a new position in Cardinal Health during the 4th quarter worth approximately $41,000. HHM Wealth Advisors LLC increased its stake in Cardinal Health by 57.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company's stock valued at $47,000 after purchasing an additional 144 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in Cardinal Health by 29.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company's stock worth $55,000 after purchasing an additional 106 shares during the period. Finally, Quarry LP grew its holdings in shares of Cardinal Health by 541.7% in the 3rd quarter. Quarry LP now owns 616 shares of the company's stock valued at $68,000 after buying an additional 520 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on CAH. Evercore ISI upgraded Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and lifted their price target for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. raised their price target on Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $139.36.

Remove Ads

Cardinal Health Stock Down 0.5 %

Shares of NYSE:CAH traded down $0.66 during midday trading on Tuesday, hitting $132.56. The stock had a trading volume of 320,009 shares, compared to its average volume of 1,972,952. The company has a market capitalization of $32.02 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $133.67. The company's 50-day moving average price is $127.60 and its 200-day moving average price is $120.24.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.53%. Cardinal Health's dividend payout ratio (DPR) is presently 37.69%.

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.