Qtron Investments LLC Decreases Stake in Cardinal Health, Inc. (NYSE:CAH)

Qtron Investments LLC lowered its holdings in Cardinal Health, Inc. (NYSE:CAHFree Report) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,341 shares of the company’s stock after selling 804 shares during the quarter. Qtron Investments LLC’s holdings in Cardinal Health were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Clearstead Trust LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth $25,000. Cornerstone Planning Group LLC purchased a new position in shares of Cardinal Health in the third quarter worth $26,000. BKM Wealth Management LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth $30,000. Hexagon Capital Partners LLC raised its stake in shares of Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Cardinal Health in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CAH. Argus reduced their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Wells Fargo & Company reduced their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective for the company. UBS Group upped their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.57.

Check Out Our Latest Stock Analysis on CAH

Cardinal Health Stock Up 1.6 %

NYSE CAH opened at $99.27 on Friday. The firm has a market cap of $24.18 billion, a price-to-earnings ratio of 44.12, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. The business has a 50-day moving average price of $103.27 and a 200-day moving average price of $105.22. Cardinal Health, Inc. has a twelve month low of $80.90 and a twelve month high of $116.04.

Cardinal Health (NYSE:CAHGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.74 earnings per share. Research analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.5056 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.04%. Cardinal Health’s dividend payout ratio is 88.89%.

About Cardinal Health

(Free Report)

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.

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.