Te Ahumairangi Investment Management Ltd reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,716 shares of the company's stock after selling 8,100 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in Cardinal Health were worth $3,515,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of CAH. Groupama Asset Managment acquired a new position in shares of Cardinal Health in the fourth quarter worth about $1,347,000. Headlands Technologies LLC raised its holdings in Cardinal Health by 79.6% in the 4th quarter. Headlands Technologies LLC now owns 7,261 shares of the company's stock worth $859,000 after purchasing an additional 3,219 shares during the period. Geode Capital Management LLC lifted its position in shares of Cardinal Health by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock valued at $691,145,000 after buying an additional 109,273 shares in the last quarter. National Bank of Canada FI grew its stake in Cardinal Health by 20.6% in the 4th quarter. National Bank of Canada FI now owns 189,492 shares of the company's stock valued at $22,406,000 after acquiring an additional 32,309 shares during the period. Finally, Summit Financial LLC purchased a new stake in Cardinal Health in the 4th quarter worth $241,000. 87.17% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CAH has been the topic of several research analyst reports. Argus set a $148.00 target price on shares of Cardinal Health in a research report on Tuesday, February 4th. Mizuho raised their target price on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday. Wells Fargo & Company boosted their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Bank of America upgraded Cardinal Health from a "neutral" rating to a "buy" rating and raised their price objective for the company from $132.00 to $145.00 in a report on Monday, January 6th. Finally, Citigroup upped their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.14.
Get Our Latest Analysis on Cardinal Health
Cardinal Health Price Performance
CAH traded down $1.71 during trading hours on Thursday, reaching $136.96. The company's stock had a trading volume of 4,061,900 shares, compared to its average volume of 2,119,938. The stock has a market cap of $33.09 billion, a PE ratio of 25.55, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $139.39. The business's 50-day moving average is $129.14 and its 200-day moving average is $121.44.
Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating 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%. Analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.
Cardinal Health Announces Dividend
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 $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. Cardinal Health's dividend payout ratio is presently 37.69%.
Cardinal Health Company Profile
(
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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