Public Employees Retirement System of Ohio Sells 6,748 Shares of Cardinal Health, Inc. (NYSE:CAH)

Public Employees Retirement System of Ohio cut its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 148,810 shares of the company's stock after selling 6,748 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of Cardinal Health worth $16,446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eastern Bank bought a new position in shares of Cardinal Health during the 3rd quarter worth approximately $25,000. Cultivar Capital Inc. bought a new position in Cardinal Health in the second quarter valued at $27,000. Frazier Financial Advisors LLC increased its stake in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock valued at $28,000 after buying an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health during the 2nd quarter worth about $29,000. Finally, Hara Capital LLC bought a new position in shares of Cardinal Health in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

CAH has been the subject of several analyst reports. Wells Fargo & Company raised their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an "underweight" rating in a research note on Thursday, August 15th. Argus boosted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. StockNews.com cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 3rd. Mizuho began coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $139.00 price objective on the stock. Finally, Evercore ISI lifted their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an "in-line" rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.58.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $3.00 during trading hours on Wednesday, hitting $117.42. 2,013,163 shares of the stock were exchanged, compared to its average volume of 2,099,927. The company's fifty day simple moving average is $116.86 and its two-hundred day simple moving average is $108.14. The company has a market cap of $28.42 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.53 and a beta of 0.61. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.23.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter last year, the business posted $1.73 EPS. The company's revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Thursday, January 2nd. Cardinal Health's dividend payout ratio is presently 39.30%.

Cardinal Health 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.