Zacks Investment Management Decreases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Zacks Investment Management reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 124,828 shares of the company's stock after selling 8,010 shares during the period. Zacks Investment Management owned 0.05% of Cardinal Health worth $14,763,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cyrus J. Lawrence LLC bought a new stake in Cardinal Health in the fourth quarter valued at approximately $26,000. Promus Capital LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $30,000. Lee Danner & Bass Inc. acquired a new position in Cardinal Health in the fourth quarter valued at $35,000. Kentucky Trust Co bought a new stake in Cardinal Health during the fourth quarter valued at $41,000. Finally, HHM Wealth Advisors LLC raised its position in shares of Cardinal Health by 57.6% in the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company's stock worth $47,000 after acquiring an additional 144 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAH. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Mizuho increased their price objective 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. Morgan Stanley upped their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Evercore ISI upgraded shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and an average price target of $140.86.

Cardinal Health Price Performance

CAH stock traded up $2.18 during midday trading on Tuesday, reaching $133.35. The company had a trading volume of 358,841 shares, compared to its average volume of 2,194,774. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.50. The company has a market capitalization of $32.21 billion, a P/E ratio of 24.87, a P/E/G ratio of 1.49 and a beta of 0.61. The firm has a 50-day moving average price of $130.11 and a 200-day moving average price of $123.47.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, April 1st. Cardinal Health's dividend payout ratio is currently 37.69%.

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.