Cardinal Health, Inc. (NYSE:CAH) Position Cut by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in Cardinal Health, Inc. (NYSE:CAHGet Rating) by 8.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 574,742 shares of the company’s stock after selling 51,439 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of Cardinal Health worth $30,042,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. AlphaCrest Capital Management LLC lifted its stake in Cardinal Health by 68.0% in the second quarter. AlphaCrest Capital Management LLC now owns 52,621 shares of the company’s stock valued at $2,751,000 after buying an additional 21,303 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Cardinal Health by 7.7% during the second quarter. Cetera Investment Advisers now owns 48,883 shares of the company’s stock valued at $2,555,000 after purchasing an additional 3,513 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Cardinal Health by 53.5% during the second quarter. Cetera Advisor Networks LLC now owns 19,690 shares of the company’s stock valued at $1,029,000 after purchasing an additional 6,866 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Cardinal Health by 5.4% during the second quarter. Cetera Advisors LLC now owns 4,132 shares of the company’s stock valued at $216,000 after purchasing an additional 212 shares in the last quarter. Finally, Checchi Capital Advisers LLC bought a new stake in shares of Cardinal Health during the second quarter valued at about $214,000. 85.07% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

NYSE:CAH opened at $78.44 on Thursday. The stock has a market cap of $20.56 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.80. Cardinal Health, Inc. has a fifty-two week low of $45.85 and a fifty-two week high of $81.57. The stock’s 50-day moving average is $72.26 and its two-hundred day moving average is $63.72.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Tuesday, January 3rd will be issued a $0.4957 dividend. The ex-dividend date is Friday, December 30th. This represents a $1.98 annualized dividend and a yield of 2.53%. Cardinal Health’s dividend payout ratio (DPR) is currently 32.35%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CAH. Bank Of America (Bofa) upgraded shares of Cardinal Health from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $64.00 to $80.00 in a research note on Friday, November 4th. Mizuho lifted their target price on Cardinal Health from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, November 14th. Robert W. Baird lifted their target price on Cardinal Health from $74.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 7th. Credit Suisse Group lifted their target price on Cardinal Health from $64.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, November 11th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.45.

Insider Buying and Selling

In related news, insider Ola M. Snow sold 19,590 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $78.87, for a total value of $1,545,063.30. Following the completion of the sale, the insider now directly owns 31,187 shares in the company, valued at approximately $2,459,718.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Cardinal Health Company Profile

(Get Rating)

Cardinal Health, Inc operates as an integrated 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.

See Also

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

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