LSV Asset Management Decreases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• LSV Asset Management reduced its stake in Cardinal Health by 9.1%, selling 182,384 shares and holding a total of 1,831,412 shares valued at around $252 million.
• Cardinal Health's stock has seen upgrades from multiple analysts, with target prices rising significantly, including Wells Fargo's increase from $136 to $179 and Morgan Stanley's from $181 to $190.
• The company recently raised its quarterly dividend to $0.5107, reflecting a positive change from the previous dividend and representing an annual yield of 1.3%.

LSV Asset Management cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,831,412 shares of the company's stock after selling 182,384 shares during the quarter. LSV Asset Management owned 0.77% of Cardinal Health worth $252,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its stake in shares of Cardinal Health by 11.2% during the 1st quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after purchasing an additional 77 shares during the last quarter. Applied Finance Capital Management LLC lifted its holdings in Cardinal Health by 1.4% in the first quarter. Applied Finance Capital Management LLC now owns 6,049 shares of the company's stock worth $833,000 after purchasing an additional 85 shares during the period. CSS LLC IL lifted its stake in Cardinal Health by 0.8% during the fourth quarter. CSS LLC IL now owns 11,190 shares of the company's stock valued at $1,323,000 after purchasing an additional 90 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in Cardinal Health by 4.2% in the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock worth $309,000 after purchasing an additional 90 shares during the period. Finally, Smith Shellnut Wilson LLC ADV grew its stake in Cardinal Health by 2.1% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock valued at $606,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

CAH stock traded up $2.64 during midday trading on Monday, reaching $158.64. The company had a trading volume of 1,639,340 shares, compared to its average volume of 1,711,515. The firm has a 50-day moving average price of $159.74 and a 200-day moving average price of $142.94. The company has a market capitalization of $37.86 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.55 and a beta of 0.67. Cardinal Health, Inc. has a 1 year low of $96.05 and a 1 year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The business had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same period last year, the business posted $2.08 earnings per share. Cardinal Health's quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Bank of America raised their price target on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Evercore ISI restated an "outperform" rating and set a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Finally, Morgan Stanley raised their price objective on Cardinal Health from $181.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $158.07.

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.