Teacher Retirement System of Texas Sells 32,571 Shares of Cardinal Health, Inc. (NYSE:CAH)

Teacher Retirement System of Texas cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 271,188 shares of the company’s stock after selling 32,571 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of Cardinal Health worth $32,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Promus Capital LLC bought a new position in Cardinal Health during the fourth quarter worth about $30,000. Kentucky Trust Co bought a new position in Cardinal Health during the fourth quarter worth about $41,000. HHM Wealth Advisors LLC lifted its holdings in Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after acquiring an additional 144 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 29.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock worth $55,000 after acquiring an additional 106 shares in the last quarter. Finally, Quarry LP lifted its holdings in Cardinal Health by 541.7% during the third quarter. Quarry LP now owns 616 shares of the company’s stock worth $68,000 after acquiring an additional 520 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CAH. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Morgan Stanley lifted their price target on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their price target on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Stock Performance

Cardinal Health stock opened at $133.02 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $133.77. The stock has a market capitalization of $32.13 billion, a P/E ratio of 24.82, a PEG ratio of 1.49 and a beta of 0.66. The stock has a 50-day simple moving average of $127.15 and a 200 day simple moving average of $119.87.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

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.