Summit Global Investments Has $9.71 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Summit Global Investments cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 20.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 82,108 shares of the company’s stock after selling 21,492 shares during the quarter. Summit Global Investments’ holdings in Cardinal Health were worth $9,711,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its holdings in shares of Cardinal Health by 10.1% during the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock valued at $101,000 after acquiring an additional 79 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Cardinal Health by 11.0% during the fourth quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after acquiring an additional 92 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after acquiring an additional 93 shares in the last quarter. MWA Asset Management increased its holdings in shares of Cardinal Health by 2.9% during the fourth quarter. MWA Asset Management now owns 3,324 shares of the company’s stock valued at $393,000 after acquiring an additional 95 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its holdings in shares of Cardinal Health by 3.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 2,735 shares of the company’s stock valued at $323,000 after acquiring an additional 96 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $131.80 on Friday. The company has a market capitalization of $31.84 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The business has a fifty day moving average price of $127.35 and a two-hundred day moving average price of $120.00. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $133.67.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.53%. Cardinal Health’s dividend payout ratio is presently 37.69%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAH. Morgan Stanley boosted their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target for the company. JPMorgan Chase & Co. upped their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Citigroup upped their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, Argus set a $148.00 price target on Cardinal Health in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.36.

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.