Cigna Investments Inc. New decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.6% during the second quarter, Holdings Channel reports. The fund owned 12,201 shares of the company’s stock after selling 1,144 shares during the period. Cigna Investments Inc. New’s holdings in Cardinal Health were worth $956,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CAH. DnB Asset Management AS boosted its position in Cardinal Health by 19.7% in the first quarter. DnB Asset Management AS now owns 37,083 shares of the company’s stock valued at $3,024,000 after buying an additional 6,100 shares during the last quarter. Capital Investment Advisors LLC boosted its position in Cardinal Health by 3.3% in the first quarter. Capital Investment Advisors LLC now owns 6,187 shares of the company’s stock valued at $505,000 after buying an additional 196 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in Cardinal Health by 59.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 40,639 shares of the company’s stock valued at $3,314,000 after buying an additional 15,077 shares during the last quarter. Donald L. Hagan LLC boosted its position in Cardinal Health by 8.3% in the first quarter. Donald L. Hagan LLC now owns 14,253 shares of the company’s stock valued at $1,162,000 after buying an additional 1,087 shares during the last quarter. Finally, CWM LLC boosted its position in Cardinal Health by 15.6% in the first quarter. CWM LLC now owns 331,531 shares of the company’s stock valued at $27,036,000 after buying an additional 44,689 shares during the last quarter. Hedge funds and other institutional investors own 87.09% of the company’s stock.

Cardinal Health, Inc. (NYSE CAH) opened at 66.98 on Friday. The stock has a market capitalization of $21.17 billion, a PE ratio of 16.62 and a beta of 0.80. The company’s 50 day moving average is $75.67 and its 200-day moving average is $76.86. Cardinal Health, Inc. has a 1-year low of $62.70 and a 1-year high of $84.88.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Cardinal Health’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts forecast that Cardinal Health, Inc. will post $4.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be issued a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio is currently 45.79%.

ILLEGAL ACTIVITY NOTICE: “Cardinal Health, Inc. (CAH) Position Decreased by Cigna Investments Inc. New” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.watchlistnews.com/cardinal-health-inc-cah-position-decreased-by-cigna-investments-inc-new/1477294.html.

CAH has been the subject of several research analyst reports. William Blair cut shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. Leerink Swann set a $72.00 target price on shares of Cardinal Health and gave the company a “hold” rating in a research note on Friday, April 21st. Barclays PLC reaffirmed an “overweight” rating and set a $82.00 target price (down from $88.00) on shares of Cardinal Health in a research note on Saturday, April 22nd. Cowen and Company cut their target price on shares of Cardinal Health from $89.00 to $82.00 and set a “market perform” rating for the company in a research note on Tuesday, April 25th. Finally, Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Cardinal Health has a consensus rating of “Hold” and an average target price of $80.46.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH).

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.