O Shaughnessy Asset Management LLC lowered its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 34.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,147 shares of the company's stock after selling 111,144 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.09% of Cardinal Health worth $25,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of CAH. State Street Corp lifted its position in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company's stock valued at $1,566,913,000 after purchasing an additional 627,253 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock valued at $633,298,000 after buying an additional 42,082 shares during the period. Amundi lifted its holdings in shares of Cardinal Health by 5.5% during the 4th quarter. Amundi now owns 2,116,291 shares of the company's stock valued at $259,309,000 after buying an additional 110,605 shares during the period. Norges Bank purchased a new position in shares of Cardinal Health in the 4th quarter worth $246,748,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cardinal Health by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company's stock worth $179,653,000 after acquiring an additional 44,386 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Morgan Stanley increased their target price on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and increased their price objective for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Bank of America upgraded shares of Cardinal Health from a "neutral" rating to a "buy" rating and boosted their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Argus set a $148.00 target price on shares of Cardinal Health in a report on Tuesday, February 4th. Finally, Mizuho lifted their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.14.
Check Out Our Latest Analysis on CAH
Cardinal Health Stock Performance
Shares of Cardinal Health stock traded down $3.61 during trading hours on Friday, hitting $133.48. The company's stock had a trading volume of 938,832 shares, compared to its average volume of 2,116,226. The company has a market cap of $32.25 billion, a PE ratio of 24.92, a PEG ratio of 1.49 and a beta of 0.66. The business has a 50 day moving average price of $129.14 and a two-hundred day moving average price of $121.44. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $139.50.
Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.
Cardinal Health Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.52%. Cardinal Health's payout ratio is 37.69%.
About Cardinal Health
(
Free Report)
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.
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