Illinois Municipal Retirement Fund lessened its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 23.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 30,002 shares of the company's stock after selling 9,146 shares during the period. Illinois Municipal Retirement Fund's holdings in Cardinal Health were worth $4,133,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $246,748,000. Marshall Wace LLP lifted its stake in Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after buying an additional 1,913,892 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Cardinal Health in the 4th quarter valued at $141,963,000. GAMMA Investing LLC boosted its stake in shares of Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock worth $132,940,000 after buying an additional 959,486 shares during the period. Finally, Junto Capital Management LP purchased a new position in shares of Cardinal Health in the 4th quarter valued at approximately $92,811,000. 87.17% of the stock is owned by institutional investors and hedge funds.
Cardinal Health Trading Down 1.3%
CAH stock traded down $2.15 during mid-day trading on Wednesday, hitting $162.26. 2,344,988 shares of the company were exchanged, compared to its average volume of 2,489,555. The firm has a fifty day simple moving average of $153.91 and a 200 day simple moving average of $136.31. The company has a market capitalization of $38.73 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.87 and a beta of 0.68. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $168.44.
Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The company had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter last year, the business posted $2.08 EPS. Cardinal Health's quarterly revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Investors of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's dividend payout ratio is presently 31.83%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on CAH shares. UBS Group increased their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Morgan Stanley set a $181.00 target price on shares of Cardinal Health and gave the company an "overweight" rating in a report on Friday, June 13th. Robert W. Baird lifted their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Bank of America raised their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $157.43.
Get Our Latest Stock Analysis on Cardinal Health
About Cardinal Health
(
Free Report)
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.
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