New York State Common Retirement Fund Reduces Holdings in Cardinal Health, Inc. (NYSE:CAH)

New York State Common Retirement Fund lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,508 shares of the company's stock after selling 26,995 shares during the period. New York State Common Retirement Fund owned about 0.24% of Cardinal Health worth $58,818,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CAH. Flagship Harbor Advisors LLC lifted its holdings in shares of Cardinal Health by 8.9% during the third quarter. Flagship Harbor Advisors LLC now owns 5,566 shares of the company's stock valued at $483,000 after acquiring an additional 453 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of Cardinal Health during the third quarter valued at $126,000. Measured Wealth Private Client Group LLC lifted its holdings in shares of Cardinal Health by 6.6% during the third quarter. Measured Wealth Private Client Group LLC now owns 7,606 shares of the company's stock valued at $660,000 after acquiring an additional 472 shares during the period. Czech National Bank lifted its holdings in shares of Cardinal Health by 47.6% during the third quarter. Czech National Bank now owns 44,499 shares of the company's stock valued at $3,863,000 after acquiring an additional 14,359 shares during the period. Finally, MBM Wealth Consultants LLC lifted its holdings in shares of Cardinal Health by 3.7% during the third quarter. MBM Wealth Consultants LLC now owns 3,238 shares of the company's stock valued at $302,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAH. Leerink Partnrs reissued an "outperform" rating on shares of Cardinal Health in a report on Monday, February 26th. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They issued an "outperform" rating and a $125.00 price target for the company. Barclays began coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an "overweight" rating and a $117.00 price target for the company. TheStreet cut Cardinal Health from a "b-" rating to a "c+" rating in a report on Wednesday, December 27th. Finally, Argus raised Cardinal Health from a "hold" rating to a "buy" rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned 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 $103.07.

Cardinal Health Stock Performance

NYSE:CAH traded up $0.16 on Wednesday, hitting $103.54. 2,057,471 shares of the stock were exchanged, compared to its average volume of 2,274,126. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 40.76, a P/E/G ratio of 0.99 and a beta of 0.68. Cardinal Health, Inc. has a 52 week low of $77.56 and a 52 week high of $116.04. The company's 50-day moving average price is $109.56 and its 200 day moving average price is $104.59.

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

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.93%. Cardinal Health's payout ratio is currently 78.74%.

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.