Public Employees Retirement System of Ohio Sells 6,498 Shares of Cardinal Health, Inc. (NYSE:CAH)

Public Employees Retirement System of Ohio reduced its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,312 shares of the company's stock after selling 6,498 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Cardinal Health worth $16,831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vega Investment Solutions acquired a new stake in shares of Cardinal Health in the 4th quarter worth approximately $1,382,000. Sunbelt Securities Inc. raised its holdings in shares of Cardinal Health by 29.3% in the 4th quarter. Sunbelt Securities Inc. now owns 1,775 shares of the company's stock worth $209,000 after purchasing an additional 402 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $255,000. Focus Partners Advisor Solutions LLC raised its holdings in shares of Cardinal Health by 1.4% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 6,650 shares of the company's stock worth $786,000 after purchasing an additional 95 shares in the last quarter. Finally, CSS LLC IL raised its holdings in shares of Cardinal Health by 0.8% in the 4th quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after purchasing an additional 90 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Down 1.1%

Shares of NYSE:CAH traded down $1.64 on Wednesday, reaching $153.04. The company had a trading volume of 1,408,007 shares, compared to its average volume of 2,229,023. The stock has a market capitalization of $36.53 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.49 and a beta of 0.66. The stock has a 50-day moving average price of $140.43 and a 200 day moving average price of $129.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $156.44.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company's revenue was up .0% on a year-over-year basis. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued 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 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio is currently 31.83%.

Analysts Set New Price Targets

A number of analysts recently commented on CAH shares. Morgan Stanley boosted their target price on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Argus set a $148.00 price target on shares of Cardinal Health in a research report on Tuesday, February 4th. Bank of America upped their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their price target for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Finally, Citigroup restated a "neutral" rating on shares of Cardinal Health in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.

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.