Vestcor Inc Sells 8,673 Shares of Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Vestcor Inc sold 8,673 shares of Cardinal Health, reducing its ownership by 62.6%, now holding 5,171 shares valued at approximately $712,000.
• Cardinal Health reported a quarterly EPS of $2.35, exceeding the consensus estimate of $2.15, although its revenue of $54.88 billion fell short of the expected $55.33 billion.
• The company announced an increase in its quarterly dividend to $0.5107 per share, representing a 1.3% dividend yield.

Vestcor Inc reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 62.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,171 shares of the company's stock after selling 8,673 shares during the period. Vestcor Inc's holdings in Cardinal Health were worth $712,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CAH. Invesco Ltd. raised its position in shares of Cardinal Health by 4.6% during the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares during the period. Marshall Wace LLP raised its position in shares of Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after purchasing an additional 1,913,892 shares during the period. Northern Trust Corp raised its position in shares of Cardinal Health by 16.2% during the fourth quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after purchasing an additional 422,755 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cardinal Health by 4.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock worth $274,599,000 after purchasing an additional 94,768 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Cardinal Health by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,601,322 shares of the company's stock worth $189,390,000 after purchasing an additional 55,781 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 target price (up from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Morgan Stanley raised their price objective on Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. UBS Group raised 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. Citigroup restated a "neutral" rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Finally, Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average price target of $158.07.

Cardinal Health Trading Up 1.7%

NYSE CAH traded up $2.64 on Monday, reaching $158.64. The stock had a trading volume of 1,639,340 shares, compared to its average volume of 1,711,515. The business has a 50 day moving average price of $159.86 and a 200 day moving average price of $143.16. Cardinal Health, Inc. has a 1 year low of $96.05 and a 1 year high of $168.44. The company has a market capitalization of $37.86 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 1.55 and a beta of 0.67.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The business's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 earnings per share. On average, analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

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.