Arrowstreet Capital Limited Partnership Sells 2,382,566 Shares of Cardinal Health, Inc. (NYSE:CAH)

Arrowstreet Capital Limited Partnership lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 77.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 695,922 shares of the company’s stock after selling 2,382,566 shares during the period. Arrowstreet Capital Limited Partnership owned 0.29% of Cardinal Health worth $82,307,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Cambridge Financial Group Inc. acquired a new stake in shares of Cardinal Health during the fourth quarter worth $9,150,000. Allstate Corp bought a new position in Cardinal Health during the fourth quarter worth about $844,000. DnB Asset Management AS grew its position in shares of Cardinal Health by 9.6% during the 4th quarter. DnB Asset Management AS now owns 43,475 shares of the company’s stock worth $5,142,000 after buying an additional 3,798 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of Cardinal Health by 11.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 51,001 shares of the company’s stock valued at $6,032,000 after acquiring an additional 5,037 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in Cardinal Health by 19.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 142,345 shares of the company’s stock worth $16,835,000 after acquiring an additional 23,374 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CAH. Morgan Stanley increased their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Mizuho raised their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday. Citigroup boosted their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

Cardinal Health Trading Up 1.0 %

Shares of CAH opened at $137.83 on Tuesday. The stock has a market capitalization of $33.29 billion, a PE ratio of 25.71, a P/E/G ratio of 1.49 and a beta of 0.66. The firm’s 50 day moving average is $128.60 and its 200-day moving average is $121.03. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $138.62.

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

Cardinal Health Dividend Announcement

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 issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Cardinal Health 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.