World Investment Advisors LLC Lowers Stock Position in Cardinal Health, Inc. (NYSE:CAH)

World Investment Advisors LLC lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 65.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,477 shares of the company's stock after selling 4,745 shares during the quarter. World Investment Advisors LLC's holdings in Cardinal Health were worth $274,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in shares of Cardinal Health in the second quarter valued at approximately $90,440,000. State Street Corp boosted its position in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company's stock worth $1,566,913,000 after acquiring an additional 627,253 shares during the last quarter. Pacer Advisors Inc. lifted its position in Cardinal Health by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company's stock worth $403,022,000 after buying an additional 370,181 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Cardinal Health by 47.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company's stock valued at $118,197,000 after buying an additional 346,362 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Cardinal Health by 230.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company's stock worth $52,819,000 after buying an additional 333,095 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of recent research reports. Wells Fargo & Company upgraded Cardinal Health from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Mizuho began coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $139.00 price objective on the stock. StockNews.com downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 3rd. Morgan Stanley lifted their target price on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Barclays increased their price target on Cardinal Health from $117.00 to $133.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $127.50.

Cardinal Health Price Performance

Shares of NYSE CAH traded up $1.09 during midday trading on Thursday, reaching $117.00. 2,597,221 shares of the stock traded hands, compared to its average volume of 2,101,673. The company's 50 day moving average is $117.37 and its 200 day moving average is $108.89. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.23. The stock has a market capitalization of $28.32 billion, a PE ratio of 22.76, a P/E/G ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) 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 negative return on equity of 56.56% and a net margin of 0.56%. The company's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 earnings per share. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.73%. Cardinal Health's payout ratio is 39.30%.

About Cardinal Health

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.