Cardinal Health, Inc. (NYSE:CAH) Stake Lessened by USS Investment Management Ltd

USS Investment Management Ltd decreased its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 43.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,998 shares of the company's stock after selling 25,780 shares during the quarter. USS Investment Management Ltd's holdings in Cardinal Health were worth $4,022,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CAH. Barclays PLC lifted its stake in shares of Cardinal Health by 8.2% in the third quarter. Barclays PLC now owns 707,404 shares of the company's stock worth $78,183,000 after acquiring an additional 53,851 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Cardinal Health in the fourth quarter worth about $433,000. Arkadios Wealth Advisors acquired a new position in shares of Cardinal Health in the fourth quarter worth about $242,000. UMB Bank n.a. raised its stake in Cardinal Health by 6.8% during the fourth quarter. UMB Bank n.a. now owns 2,401 shares of the company's stock valued at $284,000 after buying an additional 152 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Cardinal Health by 32.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,438 shares of the company's stock valued at $170,000 after buying an additional 353 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley upped their price objective on Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Bank of America upped their price objective on Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Wells Fargo & Company upped their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Finally, Mizuho upped their target price on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $146.43.

Cardinal Health Price Performance

CAH stock traded down $0.63 on Wednesday, reaching $154.05. The company's stock had a trading volume of 263,172 shares, compared to its average volume of 2,222,748. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $156.44. The company has a market capitalization of $36.77 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The firm has a fifty day moving average of $140.43 and a two-hundred day moving average of $129.66.

Cardinal Health (NYSE:CAH - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 earnings per share. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.33%. 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%.

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.