Skba Capital Management LLC Sells 49,550 Shares of Cardinal Health, Inc. (NYSE:CAH)

Skba Capital Management LLC decreased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 46.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,250 shares of the company's stock after selling 49,550 shares during the period. Skba Capital Management LLC's holdings in Cardinal Health were worth $6,771,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Cardinal Health during the fourth quarter worth $246,748,000. State Street Corp increased its holdings in Cardinal Health by 4.6% in the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company's stock worth $1,566,913,000 after purchasing an additional 627,253 shares in the last quarter. Raymond James Financial Inc. bought a new position in Cardinal Health in the fourth quarter valued at about $45,115,000. Two Sigma Advisers LP grew its holdings in shares of Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company's stock worth $118,197,000 after purchasing an additional 346,362 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Cardinal Health by 230.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company's stock valued at $52,819,000 after buying an additional 333,095 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

CAH has been the subject of several recent research reports. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their price target for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Mizuho lifted their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday. Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and increased their price target for the company from $132.00 to $145.00 in a research note on Monday, January 6th. TD Cowen upgraded Cardinal Health from a "hold" rating to a "buy" rating and raised their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $140.14.

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Cardinal Health Stock Down 0.9 %

NYSE:CAH traded down $1.27 on Thursday, hitting $137.40. The stock had a trading volume of 2,033,245 shares, compared to its average volume of 2,109,153. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $139.39. The business's fifty day moving average is $128.98 and its 200 day moving average is $121.33. The company has a market cap of $33.19 billion, a PE ratio of 25.69, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping 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%. Equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business 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 dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.47%. The ex-dividend date is Tuesday, April 1st. 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.