Cardinal Health, Inc. (NYSE:CAH) Stock Holdings Lessened by LSV Asset Management

LSV Asset Management trimmed its stake in Cardinal Health, Inc. (NYSE:CAH) by 9.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,013,796 shares of the company’s stock after selling 208,000 shares during the quarter. LSV Asset Management owned 0.83% of Cardinal Health worth $238,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Scotia Capital Inc. increased its holdings in Cardinal Health by 3.0% in the fourth quarter. Scotia Capital Inc. now owns 57,332 shares of the company’s stock worth $6,781,000 after buying an additional 1,678 shares during the last quarter. APG Asset Management US Inc. acquired a new position in Cardinal Health in the fourth quarter worth approximately $591,000. Raymond James Financial Inc. acquired a new position in Cardinal Health in the fourth quarter worth approximately $45,115,000. Martingale Asset Management L P increased its holdings in Cardinal Health by 1.5% in the fourth quarter. Martingale Asset Management L P now owns 141,686 shares of the company’s stock worth $16,757,000 after buying an additional 2,138 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in Cardinal Health by 57.1% during the fourth quarter. APG Asset Management N.V. now owns 370,196 shares of the company’s stock valued at $42,282,000 after purchasing an additional 134,600 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $145.00 in a report on Monday, January 6th. Mizuho raised their target price on Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Morgan Stanley raised their target price on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

Cardinal Health Price Performance

NYSE:CAH opened at $130.75 on Thursday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $139.50. The stock has a market capitalization of $31.59 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The business’s 50-day simple moving average is $129.13 and its 200-day simple moving average is $122.10.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 EPS 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%. On average, research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 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.