Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Graham Capital Management L.P.

Graham Capital Management L.P. trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 44.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,197 shares of the company’s stock after selling 2,545 shares during the period. Graham Capital Management L.P.’s holdings in Cardinal Health were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CAH. Cyrus J. Lawrence LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $26,000. Promus Capital LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $30,000. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $32,000. Lee Danner & Bass Inc. acquired a new position in shares of Cardinal Health in the 4th quarter valued at $35,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Cardinal Health in the 4th quarter valued at $36,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 1.5%

NYSE:CAH opened at $154.23 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $154.32. The stock has a market capitalization of $36.81 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock’s 50-day moving average price is $137.09 and its 200-day moving average price is $127.65.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion for the quarter, compared to analysts’ expectations of $55.33 billion. During the same period last year, the firm earned $2.08 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.32%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. Cardinal Health’s payout ratio is presently 31.83%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Argus set a $148.00 price target on Cardinal Health in a research report on Tuesday, February 4th. Bank of America increased their price target on Cardinal Health from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Morgan Stanley increased their price target on Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Finally, UBS Group increased their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

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.