Deseret Mutual Benefit Administrators Sells 264 Shares of Cardinal Health, Inc. (NYSE:CAH)

Deseret Mutual Benefit Administrators cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 16.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,331 shares of the company’s stock after selling 264 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Cardinal Health were worth $157,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CAH. Sequoia Financial Advisors LLC grew its stake in shares of Cardinal Health by 39.7% in the third quarter. Sequoia Financial Advisors LLC now owns 7,670 shares of the company’s stock valued at $848,000 after buying an additional 2,178 shares in the last quarter. Signaturefd LLC raised its position in Cardinal Health by 18.7% during the third quarter. Signaturefd LLC now owns 2,701 shares of the company’s stock worth $298,000 after acquiring an additional 425 shares in the last quarter. Eastern Bank acquired a new stake in Cardinal Health in the third quarter valued at $25,000. International Assets Investment Management LLC grew its position in shares of Cardinal Health by 59.7% in the 3rd quarter. International Assets Investment Management LLC now owns 248,878 shares of the company’s stock valued at $275,060,000 after acquiring an additional 93,016 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Cardinal Health by 5.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 10,930 shares of the company’s stock worth $1,208,000 after purchasing an additional 545 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CAH shares. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley raised their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Mizuho initiated coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price for the company. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.87.

Cardinal Health Stock Performance

CAH stock opened at $126.96 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $132.84. The company has a market capitalization of $30.67 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The company’s 50-day simple moving average is $123.62 and its 200 day simple moving average is $117.08.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. Cardinal Health’s dividend payout ratio (DPR) is presently 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.