Cardinal Health, Inc. (NYSE:CAH) Stake Cut by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,965 shares of the company's stock after selling 14,477 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Cardinal Health worth $30,305,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Cyrus J. Lawrence LLC acquired a new stake in shares of Cardinal Health in the 4th quarter worth about $26,000. Tompkins Financial Corp boosted its position in shares of Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after buying an additional 128 shares during the period. Promus Capital LLC bought a new stake in Cardinal Health during the 4th quarter valued at $30,000. Bellwether Advisors LLC acquired a new position in Cardinal Health during the 4th quarter worth $32,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health in the fourth quarter worth $35,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

Shares of CAH traded up $2.82 during trading hours on Thursday, hitting $164.80. 1,234,057 shares of the company were exchanged, compared to its average volume of 2,245,561. The firm has a fifty day simple moving average of $155.04 and a 200-day simple moving average of $136.82. The company has a market capitalization of $39.33 billion, a PE ratio of 25.71, a PEG ratio of 1.60 and a beta of 0.68. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly 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. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The firm had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter last year, the business posted $2.08 EPS. Cardinal Health's revenue was up .0% on a year-over-year basis. Sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Tuesday, July 1st. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is 31.83%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CAH. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Morgan Stanley set a $181.00 price objective on shares of Cardinal Health and gave the company an "overweight" rating in a research note on Friday, June 13th. Mizuho upped their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Finally, Robert W. Baird increased their price target on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $157.43.

Cardinal Health Company 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.