Teacher Retirement System of Texas Sells 45,950 Shares of Cardinal Health, Inc. $CAH

Key Points

• Teacher Retirement System of Texas sold 45,950 shares of Cardinal Health, a 16.7% reduction that left it with 228,662 shares worth about $46.99 million (≈0.10% of the company).
• Multiple brokerages have raised ratings and price targets, leaving Cardinal Health with a consensus rating of Moderate Buy and a consensus target price of $244.33.
• Cardinal Health beat the quarter with $2.63 EPS (vs. $2.31 est.) and $65.63B revenue (up 18.8% YoY), but reported a thin 0.68% net margin and a negative 92.5% return on equity.

Teacher Retirement System of Texas reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,662 shares of the company's stock after selling 45,950 shares during the period. Teacher Retirement System of Texas owned 0.10% of Cardinal Health worth $46,990,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CAH. Strategy Asset Managers LLC bought a new stake in Cardinal Health in the third quarter worth about $775,000. Mirae Asset Global Investments Co. Ltd. raised its position in Cardinal Health by 15.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company's stock worth $5,938,000 after acquiring an additional 5,030 shares during the period. Versor Investments LP bought a new stake in Cardinal Health in the third quarter worth about $2,090,000. Nordea Investment Management AB raised its position in Cardinal Health by 328.3% in the fourth quarter. Nordea Investment Management AB now owns 645,436 shares of the company's stock worth $133,741,000 after acquiring an additional 494,731 shares during the period. Finally, Atle Fund Management AB raised its position in Cardinal Health by 13.1% in the third quarter. Atle Fund Management AB now owns 30,297 shares of the company's stock worth $4,755,000 after acquiring an additional 3,500 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CAH. Jefferies Financial Group lifted their price objective on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, January 22nd. Mizuho lifted their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an "outperform" rating in a research note on Friday, February 6th. TD Cowen lifted their target price on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Zacks Research upgraded shares of Cardinal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Finally, Argus lifted their target price on shares of Cardinal Health from $232.00 to $248.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.33.

Cardinal Health Trading Down 2.3%

Shares of NYSE:CAH opened at $200.27 on Thursday. The company has a 50 day moving average of $216.16 and a 200 day moving average of $203.92. The stock has a market cap of $47.13 billion, a P/E ratio of 28.82, a P/E/G ratio of 1.32 and a beta of 0.64. Cardinal Health, Inc. has a 12 month low of $133.26 and a 12 month high of $233.60.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.31 by $0.32. The company had revenue of $65.63 billion during the quarter, compared to analysts' expectations of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. Cardinal Health's revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.93 earnings per share. On average, equities analysts forecast that Cardinal Health, Inc. will post 10.32 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a dividend of $0.5107 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 1.0%. Cardinal Health's payout ratio is currently 29.35%.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

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