Cardinal Health, Inc. $CAH Shares Sold by Wedge Capital Management L L P NC

Key Points

• Wedge Capital trimmed its stake in Cardinal Health by 9.4% in Q4, selling 15,127 shares and ending with 146,058 shares worth about $30.02M; institutional investors hold roughly 87.17% of the stock.
• Analysts have lifted price targets and ratings recently, leaving Cardinal Health with a consensus "Moderate Buy" and an average target price of $245.67.
• Cardinal Health beat quarterly expectations (EPS $2.63 vs. $2.31) with revenue up 18.8% YoY, and declared a quarterly dividend of $0.5107 (annualized $2.04, ~1.0% yield; ex-dividend Apr 1).

Wedge Capital Management L L P NC decreased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,058 shares of the company's stock after selling 15,127 shares during the period. Wedge Capital Management L L P NC owned approximately 0.06% of Cardinal Health worth $30,015,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. SJS Investment Consulting Inc. raised its holdings in shares of Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company's stock valued at $25,000 after buying an additional 150 shares during the period. Aventura Private Wealth LLC purchased a new position in Cardinal Health in the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp grew its position in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock valued at $27,000 after acquiring an additional 14,034 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Cardinal Health in the third quarter valued at approximately $31,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of Cardinal Health during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Cardinal Health from $243.00 to $258.00 and gave the company an "overweight" rating in a research note on Tuesday, February 24th. Mizuho lifted their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an "outperform" rating in a research note on Friday, February 6th. Robert W. Baird set a $252.00 price objective on shares of Cardinal Health in a report on Friday, February 6th. TD Cowen upped their price objective on shares of Cardinal Health from $233.00 to $251.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. Finally, Argus raised their target price on Cardinal Health from $232.00 to $248.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $245.67.

Cardinal Health Trading Down 0.5%

CAH stock opened at $206.61 on Friday. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $233.60. The company has a market capitalization of $48.62 billion, a P/E ratio of 29.73, a PEG ratio of 1.34 and a beta of 0.65. The firm has a 50 day simple moving average of $217.41 and a 200-day simple moving average of $196.12.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.32. The firm had revenue of $65.63 billion for the quarter, compared to analysts' expectations of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm's quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. On average, research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. Cardinal Health's dividend payout ratio (DPR) is presently 29.35%.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

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