Jacobs Levy Equity Management Inc. Has $1.59 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Jacobs Levy Equity Management Inc. trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 97.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,399 shares of the company's stock after selling 434,293 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Cardinal Health were worth $1,585,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Cardinal Health during the fourth quarter worth $246,748,000. Marshall Wace LLP raised its holdings in shares of Cardinal Health by 154.6% in the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after purchasing an additional 1,913,892 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in Cardinal Health during the fourth quarter worth approximately $141,963,000. Junto Capital Management LP bought a new stake in Cardinal Health in the fourth quarter valued at approximately $92,811,000. Finally, 8 Knots Management LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $62,476,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Up 0.6%

Shares of CAH stock traded up $0.85 during trading hours on Tuesday, hitting $154.71. 1,928,825 shares of the company's stock traded hands, compared to its average volume of 2,229,443. The stock has a market cap of $36.93 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock's 50 day simple moving average is $137.63 and its 200 day simple moving average is $128.19. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $156.44.

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, beating analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The company's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.32%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is currently 31.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and increased their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. UBS Group increased 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. Robert W. Baird boosted their target price 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. 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, Mizuho increased their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.

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.