Teacher Retirement System of Texas decreased its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 271,188 shares of the company's stock after selling 32,571 shares during the quarter. Teacher Retirement System of Texas owned 0.11% of Cardinal Health worth $32,073,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Cardinal Health during the 4th quarter valued at $82,000. Vinva Investment Management Ltd lifted its holdings in Cardinal Health by 10.9% in the fourth quarter. Vinva Investment Management Ltd now owns 11,971 shares of the company's stock valued at $1,412,000 after acquiring an additional 1,181 shares during the period. Generali Asset Management SPA SGR purchased a new position in Cardinal Health in the fourth quarter worth about $3,381,000. Thrivent Financial for Lutherans grew its stake in shares of Cardinal Health by 1.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 12,937 shares of the company's stock valued at $1,539,000 after purchasing an additional 210 shares during the period. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Cardinal Health during the 4th quarter valued at about $201,000. 87.17% of the stock is owned by hedge funds and other institutional investors.
Cardinal Health Stock Down 0.3 %
CAH stock traded down $0.35 during mid-day trading on Tuesday, hitting $132.86. The company had a trading volume of 2,122,562 shares, compared to its average volume of 1,972,952. The company has a 50-day moving average price of $127.60 and a 200 day moving average price of $120.24. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $133.67. The company has a market capitalization of $32.09 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.49 and a beta of 0.66.
Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.
Cardinal Health Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio is presently 37.69%.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Bank of America upgraded shares of Cardinal Health from a "neutral" rating to a "buy" rating and boosted their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Wells Fargo & Company boosted their price objective 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. Mizuho assumed coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an "outperform" rating and a $139.00 target price on the stock. Morgan Stanley boosted their price target on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Argus set a $148.00 price objective on Cardinal Health in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $139.36.
Read Our Latest Stock Analysis on Cardinal Health
About Cardinal Health
(
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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