Ontario Teachers Pension Plan Board Trims Holdings in Cardinal Health, Inc. (NYSE:CAH)

Ontario Teachers Pension Plan Board trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 58.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,298 shares of the company's stock after selling 22,793 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Cardinal Health were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Cardinal Health by 9.9% during the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company's stock worth $403,022,000 after purchasing an additional 370,181 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Cardinal Health by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company's stock worth $305,584,000 after purchasing an additional 14,030 shares during the period. ProShare Advisors LLC boosted its position in Cardinal Health by 5.1% during the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company's stock worth $172,974,000 after purchasing an additional 85,247 shares during the period. Renaissance Technologies LLC boosted its position in Cardinal Health by 7.1% during the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company's stock worth $165,517,000 after purchasing an additional 111,137 shares during the period. Finally, American Century Companies Inc. boosted its position in Cardinal Health by 17.7% during the second 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 period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAH. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Robert W. Baird increased their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an "outperform" rating in a report on Thursday, August 15th. Morgan Stanley increased their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. StockNews.com downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 3rd. Finally, Argus increased their price target 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 research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $123.00.

Cardinal Health Stock Up 1.7 %

CAH stock traded up $2.01 during midday trading on Wednesday, hitting $120.34. The company's stock had a trading volume of 1,708,039 shares, compared to its average volume of 2,112,726. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14. The firm has a market capitalization of $29.12 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. The company has a 50 day moving average of $113.36 and a two-hundred day moving average of $105.47.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the company posted $1.73 EPS. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company 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. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.68%. Cardinal Health's dividend payout ratio (DPR) is 39.30%.

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.