Martingale Asset Management L P Sells 11,273 Shares of Cardinal Health, Inc. $CAH

Martingale Asset Management L P lessened its holdings in Cardinal Health, Inc. (NYSE:CAH) by 8.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 118,389 shares of the company’s stock after selling 11,273 shares during the quarter. Martingale Asset Management L P’s holdings in Cardinal Health were worth $18,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its stake in shares of Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares during the period. Jones Financial Companies Lllp lifted its holdings in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cardinal Health during the 2nd quarter worth $221,000. Allworth Financial LP lifted its position in shares of Cardinal Health by 9.2% in the second quarter. Allworth Financial LP now owns 4,345 shares of the company’s stock worth $730,000 after purchasing an additional 367 shares in the last quarter. Finally, Vise Technologies Inc. bought a new stake in Cardinal Health during the 2nd quarter worth approximately $1,011,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CAH. Robert W. Baird set a $252.00 price objective on shares of Cardinal Health in a report on Friday, February 6th. Wells Fargo & Company upped their target price on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. UBS Group set a $260.00 target price on shares of Cardinal Health and gave the stock a “buy” rating in a report on Friday, February 6th. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Mizuho increased their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Trading Up 1.8%

Shares of NYSE:CAH opened at $219.24 on Friday. The company has a 50 day moving average of $216.60 and a 200 day moving average of $191.39. The stock has a market cap of $51.59 billion, a P/E ratio of 31.55, a P/E/G ratio of 1.39 and a beta of 0.65. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $233.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the business earned $1.93 EPS. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is presently 29.35%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.