Cardinal Health, Inc. (NYSE:CAH) Shares Sold by PGGM Investments

PGGM Investments trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 168,696 shares of the company’s stock after selling 343 shares during the quarter. PGGM Investments owned about 0.07% of Cardinal Health worth $17,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its holdings in shares of Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after buying an additional 1,862,291 shares during the period. Northern Trust Corp lifted its holdings in shares of Cardinal Health by 0.9% in the 3rd quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock valued at $290,026,000 after buying an additional 28,412 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Cardinal Health by 17.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock valued at $264,052,000 after buying an additional 389,431 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Cardinal Health by 0.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock valued at $216,749,000 after buying an additional 19,287 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Cardinal Health by 118.9% in the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after buying an additional 823,520 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CAH. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Barclays assumed coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. UBS Group raised their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.07.

Cardinal Health Price Performance

Cardinal Health stock traded down $0.60 during mid-day trading on Friday, hitting $103.21. 1,399,916 shares of the company were exchanged, compared to its average volume of 1,705,735. The business’s 50 day simple moving average is $109.51 and its two-hundred day simple moving average is $104.67. The company has a market capitalization of $25.10 billion, a P/E ratio of 40.63, a PEG ratio of 1.05 and a beta of 0.68. Cardinal Health, Inc. has a 12-month low of $77.56 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. Equities research analysts predict that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

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.