Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,634 shares of the company's stock after selling 2,981 shares during the quarter. Gotham Asset Management LLC's holdings in Cardinal Health were worth $3,150,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CAH. Norges Bank purchased a new position in Cardinal Health during the 4th quarter valued at about $246,748,000. Marshall Wace LLP increased its stake in shares of Cardinal Health by 154.6% during the 4th 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 in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $141,963,000. 8 Knots Management LLC purchased a new stake in Cardinal Health in the 4th quarter valued at approximately $62,476,000. Finally, Bank of Nova Scotia grew its holdings in Cardinal Health by 1,142.4% during the 4th quarter. Bank of Nova Scotia now owns 545,313 shares of the company's stock valued at $64,494,000 after buying an additional 501,421 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Cardinal Health stock traded up $1.58 during midday trading on Tuesday, hitting $155.44. 570,833 shares of the company were exchanged, compared to its average volume of 2,224,211. The company has a market cap of $37.10 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $156.44. The company's fifty day moving average price is $137.63 and its 200-day moving average price is $128.19.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. On average, analysts expect that Cardinal Health, Inc. will post 7.95 EPS 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 $0.5107 dividend. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is currently 31.83%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CAH. 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 report on Monday, May 5th. Wells Fargo & Company raised their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. Robert W. Baird boosted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Finally, UBS Group lifted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Four research 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.