Voya Investment Management LLC Decreases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Voya Investment Management LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 201,535 shares of the company's stock after selling 7,407 shares during the quarter. Voya Investment Management LLC owned about 0.08% of Cardinal Health worth $23,836,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAH. Norges Bank bought a new stake in shares of Cardinal Health during the 4th quarter valued at approximately $246,748,000. Marshall Wace LLP grew its position in Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after acquiring an additional 1,913,892 shares during the last quarter. Bank of Nova Scotia increased its holdings in Cardinal Health by 1,142.4% in the 4th quarter. Bank of Nova Scotia now owns 545,313 shares of the company's stock worth $64,494,000 after purchasing an additional 501,421 shares in the last quarter. Raymond James Financial Inc. bought a new position in Cardinal Health in the fourth quarter valued at about $45,115,000. Finally, Renaissance Group LLC boosted its stake in shares of Cardinal Health by 4,375.6% during the fourth quarter. Renaissance Group LLC now owns 265,044 shares of the company's stock valued at $31,347,000 after purchasing an additional 259,122 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 brokerages recently issued reports on CAH. Evercore ISI upgraded shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective for the company in a report on Tuesday, January 7th. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and lifted their price target for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Robert W. Baird increased their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday. Morgan Stanley lifted their target price on Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, 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 research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $144.71.

Cardinal Health Stock Performance

CAH stock traded up $3.93 during mid-day trading on Friday, hitting $149.46. The company had a trading volume of 1,593,659 shares, compared to its average volume of 2,194,855. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $149.50. The stock's fifty day moving average price is $131.95 and its two-hundred day moving average price is $124.73. The firm has a market cap of $36.10 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same period last year, the business posted $2.08 earnings per share. The business's revenue for the quarter was up .0% on a year-over-year basis. Equities 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 announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.5056 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.35%. Cardinal Health's payout ratio is 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.