American Century Companies Inc. Lowers Position in Cardinal Health, Inc. (NYSE:CAH)

American Century Companies Inc. lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 28.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,093,350 shares of the company’s stock after selling 424,616 shares during the period. American Century Companies Inc. owned approximately 0.45% of Cardinal Health worth $129,311,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cyrus J. Lawrence LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth $26,000. Promus Capital LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth about $30,000. Lee Danner & Bass Inc. purchased a new position in shares of Cardinal Health in the 4th quarter worth about $35,000. Kentucky Trust Co acquired a new position in shares of Cardinal Health in the 4th quarter valued at about $41,000. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $131.80 on Monday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $133.67. The stock has a market capitalization of $31.84 billion, a PE ratio of 24.59, a P/E/G ratio of 1.49 and a beta of 0.66. The firm’s fifty day moving average price is $127.35 and its 200 day moving average price is $120.08.

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

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 1.53%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAH. TD Cowen raised shares of 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 report on Wednesday, January 8th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Argus set a $148.00 price target on Cardinal Health in a report on Tuesday, February 4th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company increased their target price 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Cardinal Health presently 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.