Voloridge Investment Management LLC Lowers Stake in Cardinal Health, Inc. (NYSE:CAH)

Voloridge Investment Management LLC cut its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,306,018 shares of the company's stock after selling 179,067 shares during the quarter. Cardinal Health makes up 0.5% of Voloridge Investment Management LLC's investment portfolio, making the stock its 24th largest position. Voloridge Investment Management LLC owned about 0.54% of Cardinal Health worth $154,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CAH. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cardinal Health by 35.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company's stock valued at $3,871,000 after purchasing an additional 8,471 shares during the period. Consolidated Planning Corp grew its holdings in Cardinal Health by 40.0% in the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company's stock valued at $1,056,000 after purchasing an additional 2,552 shares during the period. Flputnam Investment Management Co. grew its holdings in Cardinal Health by 1.8% in the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock valued at $21,358,000 after purchasing an additional 3,148 shares during the period. Patton Albertson Miller Group LLC purchased a new stake in Cardinal Health in the fourth quarter valued at approximately $258,000. Finally, Huntington National Bank grew its holdings in Cardinal Health by 1.2% in the fourth quarter. Huntington National Bank now owns 10,920 shares of the company's stock valued at $1,292,000 after purchasing an additional 128 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAH. UBS Group boosted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Morgan Stanley boosted their price objective on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $146.43.

Cardinal Health Trading Down 0.3%

NYSE CAH opened at $153.78 on Tuesday. The company's fifty day simple moving average is $137.63 and its 200-day simple moving average is $128.19. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $154.78. The stock has a market cap of $36.70 billion, a P/E ratio of 28.69, a PEG ratio of 1.49 and a beta of 0.66.

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

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.33%. Cardinal Health's dividend payout ratio is currently 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.

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