Renaissance Technologies LLC Sells 116,333 Shares of Cardinal Health, Inc. (NYSE:CAH)

Renaissance Technologies LLC lowered its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,710,708 shares of the company's stock after selling 116,333 shares during the period. Renaissance Technologies LLC owned approximately 0.71% of Cardinal Health worth $202,325,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Cardinal Health by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock worth $691,145,000 after acquiring an additional 109,273 shares in the last quarter. Invesco Ltd. grew its position in Cardinal Health by 4.6% during the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares in the last quarter. Amundi raised its stake in 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 purchasing an additional 110,605 shares during the period. Norges Bank purchased a new stake in shares of Cardinal Health in the fourth quarter valued at $246,748,000. Finally, Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 44,386 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. increased their target price 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. Bank of America boosted their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday. Citigroup increased their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Finally, Mizuho boosted their target price on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $140.86.

Cardinal Health Price Performance

CAH traded up $2.77 during trading on Friday, reaching $131.65. The company had a trading volume of 2,168,139 shares, compared to its average volume of 2,182,169. The company has a market cap of $31.80 billion, a P/E ratio of 24.56, a PEG ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $139.50. The business's fifty day moving average price is $129.33 and its 200 day moving average price is $122.48.

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 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, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.54%. Cardinal Health's payout ratio is presently 37.69%.

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.