California Public Employees Retirement System Has $152.82 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

California Public Employees Retirement System raised its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 118.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,516,035 shares of the company's stock after buying an additional 823,520 shares during the quarter. California Public Employees Retirement System owned 0.62% of Cardinal Health worth $152,816,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CAH. Cornerstone Planning Group LLC purchased a new stake in Cardinal Health during the third quarter valued at about $26,000. BKM Wealth Management LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $30,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Cardinal Health in the fourth quarter worth approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of Cardinal Health during the third quarter worth approximately $47,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Cardinal Health during the fourth quarter worth approximately $59,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded up $0.54 on Tuesday, reaching $103.37. The stock had a trading volume of 2,477,341 shares, compared to its average volume of 2,276,904. The business's 50-day moving average price is $109.56 and its two-hundred day moving average price is $104.60. Cardinal Health, Inc. has a fifty-two week low of $77.56 and a fifty-two week high of $116.04. The stock has a market cap of $25.14 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business had revenue of $57.45 billion during the quarter, compared to analysts' expectations of $57.02 billion. During the same period in the previous year, the company earned $1.32 earnings per share. Cardinal Health's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health's payout ratio is 78.74%.

Analysts Set New Price Targets

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

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.