Man Group plc Has $93 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Man Group plc trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 786,290 shares of the company's stock after selling 43,541 shares during the quarter. Man Group plc owned about 0.33% of Cardinal Health worth $92,995,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CAH. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cardinal Health by 35.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company's stock valued at $3,871,000 after acquiring an additional 8,471 shares during the period. CHURCHILL MANAGEMENT Corp boosted its holdings in Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company's stock valued at $28,435,000 after acquiring an additional 3,576 shares during the period. Consolidated Planning Corp boosted its holdings in Cardinal Health by 40.0% during the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company's stock valued at $1,056,000 after acquiring an additional 2,552 shares during the period. Flputnam Investment Management Co. boosted its holdings in Cardinal Health by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock valued at $21,358,000 after acquiring an additional 3,148 shares during the period. Finally, Patton Albertson Miller Group LLC bought a new stake in Cardinal Health during the fourth quarter valued at about $258,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Up 1.5%

NYSE:CAH traded up $2.28 during mid-day trading on Friday, hitting $154.23. The company's stock had a trading volume of 2,804,902 shares, compared to its average volume of 2,229,562. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $154.32. The company has a market capitalization of $36.81 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 1.49 and a beta of 0.66. The stock has a fifty day moving average of $137.09 and a 200-day moving average of $127.65.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. The company's quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.32%. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is 31.83%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent analyst reports. Mizuho upped 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. StockNews.com upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Bank of America upped their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, April 11th. Robert W. Baird increased their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, UBS Group increased their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.