Mn Services Vermogensbeheer B.V. Sells 6,900 Shares of Cardinal Health, Inc. (NYSE:CAH)

Mn Services Vermogensbeheer B.V. cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,171 shares of the company's stock after selling 6,900 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Cardinal Health were worth $12,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Cardinal Health by 8.2% during the first quarter. Brighton Jones LLC now owns 4,457 shares of the company's stock valued at $614,000 after purchasing an additional 339 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Cardinal Health during the 1st quarter valued at $199,000. Hennessy Advisors Inc. purchased a new position in shares of Cardinal Health during the 1st quarter valued at $2,948,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Cardinal Health by 15.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,790 shares of the company's stock worth $4,931,000 after buying an additional 4,693 shares during the period. Finally, Goldstone Financial Group LLC bought a new position in Cardinal Health in the 1st quarter worth $200,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley set a $181.00 price target on Cardinal Health and gave the company an "overweight" rating in a report on Friday, June 13th. Citigroup reissued a "neutral" rating and set a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Evercore ISI reissued an "outperform" rating and issued a $180.00 price target (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Bank of America upped their price target on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Mizuho lifted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $157.43.

Cardinal Health Trading Up 0.4%

CAH traded up $0.60 during trading hours on Thursday, hitting $165.51. The company's stock had a trading volume of 2,598,098 shares, compared to its average volume of 2,228,577. The stock has a market cap of $39.50 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 1.84 and a beta of 0.66. The business's 50-day moving average price is $148.17 and its 200-day moving average price is $133.48. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $166.03.

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

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is presently 31.51%.

About Cardinal Health

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.