Legal & General Group Plc Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Legal & General Group Plc reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 14.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,273,694 shares of the company’s stock after selling 375,315 shares during the period. Legal & General Group Plc’s holdings in Cardinal Health were worth $268,910,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rothschild Investment LLC boosted its position in Cardinal Health by 10.1% during the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after purchasing an additional 79 shares during the period. Private Trust Co. NA boosted its stake in Cardinal Health by 11.0% during the 4th quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after purchasing an additional 92 shares during the period. 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 purchasing an additional 93 shares during the period. TIAA Trust National Association lifted its position in Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after purchasing an additional 94 shares during the period. Finally, MWA Asset Management boosted its position in shares of Cardinal Health by 2.9% during the 4th quarter. MWA Asset Management now owns 3,324 shares of the company’s stock valued at $393,000 after purchasing an additional 95 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on CAH shares. JPMorgan Chase & Co. raised their price objective on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Mizuho increased their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Argus set a $148.00 target price on Cardinal Health in a research note on Tuesday, February 4th. Finally, Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.14.

Cardinal Health Stock Down 0.6 %

Shares of CAH stock opened at $124.87 on Wednesday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $139.50. The company has a market cap of $30.16 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The firm has a 50 day moving average of $128.94 and a 200-day moving average of $121.91.

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

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.62%. 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.