Wedge Capital Management L L P NC Cuts Stake in Cardinal Health, Inc. (NYSE:CAH)

Wedge Capital Management L L P NC trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 18.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,073 shares of the company's stock after selling 63,718 shares during the quarter. Wedge Capital Management L L P NC owned 0.11% of Cardinal Health worth $28,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Significant Wealth Partners LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth about $236,000. CWM LLC boosted its position in shares of Cardinal Health by 121.6% during the 4th quarter. CWM LLC now owns 12,164 shares of the company's stock worth $1,226,000 after acquiring an additional 6,675 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Cardinal Health by 3.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,794 shares of the company's stock worth $2,298,000 after acquiring an additional 672 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Cardinal Health by 7.5% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 15,957 shares of the company's stock worth $1,608,000 after acquiring an additional 1,119 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Cardinal Health by 12.8% during the 4th quarter. Signaturefd LLC now owns 2,532 shares of the company's stock worth $255,000 after acquiring an additional 288 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CAH shares. Argus raised Cardinal Health from a "hold" rating to a "buy" rating in a research report on Friday, February 9th. UBS Group boosted their target price on Cardinal Health from $122.00 to $125.00 and gave the company a "buy" rating in a report on Monday, February 5th. Barclays began coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an "overweight" rating and a $117.00 target price for the company. TheStreet downgraded Cardinal Health from a "b-" rating to a "c+" rating in a report on Wednesday, December 27th. Finally, SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They issued an "outperform" rating and a $125.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and a consensus target price of $103.07.

Cardinal Health Stock Down 5.0 %

CAH traded down $5.36 on Monday, hitting $102.83. 5,282,920 shares of the company traded hands, compared to its average volume of 2,274,301. The company has a 50 day moving average of $109.58 and a 200-day moving average of $104.50. The stock has a market capitalization of $25.01 billion, a PE ratio of 40.48, a PEG ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a 12-month low of $77.56 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm's revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 EPS. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health's dividend payout ratio is presently 78.74%.

Cardinal Health 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.