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

Versor Investments LP trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 63.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,472 shares of the company’s stock after selling 22,000 shares during the period. Versor Investments LP’s holdings in Cardinal Health were worth $1,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Strs Ohio boosted its stake in Cardinal Health by 4.5% during the 3rd quarter. Strs Ohio now owns 31,589 shares of the company’s stock valued at $2,742,000 after purchasing an additional 1,357 shares in the last quarter. Advisor Partners II LLC boosted its stake in Cardinal Health by 11.7% during the third quarter. Advisor Partners II LLC now owns 12,205 shares of the company’s stock valued at $1,060,000 after buying an additional 1,275 shares in the last quarter. TD Asset Management Inc grew its holdings in Cardinal Health by 2.4% during the third quarter. TD Asset Management Inc now owns 295,966 shares of the company’s stock worth $25,696,000 after acquiring an additional 7,042 shares during the period. Assetmark Inc. raised its position in Cardinal Health by 178.0% in the third quarter. Assetmark Inc. now owns 61,974 shares of the company’s stock worth $5,381,000 after acquiring an additional 39,685 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Cardinal Health by 34.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 16,080 shares of the company’s stock valued at $1,396,000 after acquiring an additional 4,125 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

Shares of CAH opened at $99.53 on Friday. The company has a market capitalization of $24.24 billion, a price-to-earnings ratio of 44.24, a P/E/G ratio of 1.13 and a beta of 0.71. The business’s 50-day moving average is $107.83 and its 200-day moving average is $105.30. Cardinal Health, Inc. has a fifty-two week low of $80.90 and a fifty-two week high of $116.04.

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

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 2.03%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is 88.89%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAH. Evercore ISI lifted their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. UBS Group increased 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. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Wells Fargo & Company cut their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Finally, StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.00.

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.