State of Alaska Department of Revenue Reduces Stake in Cardinal Health, Inc. (NYSE:CAH)


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State of Alaska Department of Revenue reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,677 shares of the company’s stock after selling 2,165 shares during the period. State of Alaska Department of Revenue’s holdings in Cardinal Health were worth $2,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Demars Financial Group LLC purchased a new position in shares of Cardinal Health in the 2nd quarter worth $33,000. Nachman Norwood & Parrott Inc purchased a new position in shares of Cardinal Health in the 3rd quarter worth $37,000. NuWave Investment Management LLC boosted its stake in shares of Cardinal Health by 346.3% in the 3rd quarter. NuWave Investment Management LLC now owns 1,495 shares of the company’s stock worth $70,000 after buying an additional 1,160 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Cardinal Health by 25.8% in the 3rd quarter. Trust Co. of Vermont now owns 1,588 shares of the company’s stock worth $75,000 after buying an additional 326 shares during the last quarter. Finally, NEXT Financial Group Inc purchased a new position in shares of Cardinal Health in the 3rd quarter worth $76,000. Hedge funds and other institutional investors own 82.62% of the company’s stock.

Several research firms recently weighed in on CAH. Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Mizuho lifted their target price on Cardinal Health from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, November 13th. Wolfe Research upgraded Cardinal Health from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 8th. Barclays upgraded Cardinal Health from an “equal weight” rating to an “overweight” rating and set a $57.00 price objective on the stock in a research report on Monday, November 2nd. Finally, Morgan Stanley upped their price objective on Cardinal Health from $61.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, November 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Cardinal Health currently has a consensus rating of “Buy” and an average price target of $60.30.

CAH stock opened at $55.40 on Thursday. The firm has a fifty day moving average price of $54.64 and a 200 day moving average price of $51.79. Cardinal Health, Inc. has a fifty-two week low of $39.05 and a fifty-two week high of $60.69. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.57 and a current ratio of 1.13. The firm has a market cap of $16.26 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.37. The company had revenue of $39.10 billion during the quarter, compared to the consensus estimate of $38.14 billion. Cardinal Health had a return on equity of 123.28% and a net margin of 0.63%. Cardinal Health’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.27 earnings per share. On average, equities analysts predict that Cardinal Health, Inc. will post 5.87 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be given a dividend of $0.486 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.51%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 31st. Cardinal Health’s dividend payout ratio (DPR) is 35.60%.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments, Pharmaceutical and Medical.

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

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