Wedge Capital Management L L P NC Sells 37,092 Shares of Cardinal Health, Inc. (NYSE:CAH)

Wedge Capital Management L L P NC lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 241,768 shares of the company's stock after selling 37,092 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.10% of Cardinal Health worth $28,594,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock valued at $633,298,000 after purchasing an additional 42,082 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company's stock valued at $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Alpha Cubed Investments LLC purchased a new stake in Cardinal Health during the third quarter valued at about $371,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Cardinal Health during the third quarter valued at about $1,691,000. Finally, National Wealth Management Group LLC purchased a new stake in Cardinal Health during the third quarter valued at about $903,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

CAH traded down $0.76 on Friday, reaching $126.27. The company had a trading volume of 1,642,944 shares, compared to its average volume of 1,877,583. The business has a 50 day simple moving average of $120.75 and a 200 day simple moving average of $111.81. The company has a market cap of $30.56 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $127.27.

Cardinal Health (NYSE:CAH - Get Free Report) last announced 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. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health's quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.73 earnings per share. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health's payout ratio is currently 39.30%.

Analyst Ratings Changes

CAH has been the topic of several recent research reports. Barclays upped their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Wells Fargo & Company raised shares of Cardinal Health from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $101.00 to $127.00 in a report on Friday, December 13th. TD Cowen raised shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Morgan Stanley increased their price target on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Citigroup increased their price target 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 research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.29.

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.