Pzena Investment Management LLC Sells 558,043 Shares of Cardinal Health, Inc. (NYSE:CAH)

Pzena Investment Management LLC decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,160,629 shares of the company's stock after selling 558,043 shares during the quarter. Pzena Investment Management LLC owned about 0.48% of Cardinal Health worth $116,991,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CAH. Allworth Financial LP boosted its position in Cardinal Health by 41.5% during the 3rd quarter. Allworth Financial LP now owns 1,675 shares of the company's stock worth $145,000 after acquiring an additional 491 shares during the period. FDx Advisors Inc. grew its position in Cardinal Health by 8.8% in the 3rd quarter. FDx Advisors Inc. now owns 2,378 shares of the company's stock valued at $206,000 after buying an additional 192 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Cardinal Health by 9.1% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,904 shares of the company's stock valued at $686,000 after buying an additional 656 shares during the period. Dai ichi Life Insurance Company Ltd raised its position in shares of Cardinal Health by 18.0% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 9,761 shares of the company's stock worth $847,000 after buying an additional 1,489 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of Cardinal Health by 7.2% in the 3rd quarter. Private Advisor Group LLC now owns 13,769 shares of the company's stock worth $1,199,000 after acquiring an additional 930 shares during the period. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of NYSE CAH traded up $0.31 during trading hours on Wednesday, hitting $96.32. The stock had a trading volume of 1,812,257 shares, compared to its average volume of 2,222,110. The firm's 50-day moving average price is $105.31 and its two-hundred day moving average price is $105.54. Cardinal Health, Inc. has a 52 week low of $80.90 and a 52 week high of $116.04. The company has a market capitalization of $23.46 billion, a P/E ratio of 42.81, a P/E/G ratio of 1.12 and a beta of 0.71.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $54.90 billion during the quarter, compared to analysts' expectations of $56.05 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The business's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Cardinal Health's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. Cardinal Health's payout ratio is presently 88.89%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAH. Evercore ISI boosted their target price on Cardinal Health from $110.00 to $115.00 and gave the stock an "in-line" rating in a report on Friday, May 3rd. Robert W. Baird cut their price objective on Cardinal Health from $134.00 to $128.00 and set an "outperform" rating for the company in a report on Friday, May 3rd. Leerink Partnrs reaffirmed an "outperform" rating on shares of Cardinal Health in a research note on Monday, February 26th. StockNews.com upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Monday. Finally, SVB Leerink started coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an "outperform" rating and a $125.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.57.

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.