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

Wedge Capital Management L L P NC trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 241,768 shares of the company’s stock after selling 37,092 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Cardinal Health were worth $28,594,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Eastern Bank acquired a new position in shares of Cardinal Health during the 3rd quarter worth about $25,000. Frazier Financial Advisors LLC increased its stake in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares in the last quarter. Hara Capital LLC acquired a new position in shares of Cardinal Health during the third quarter valued at approximately $31,000. AM Squared Ltd purchased a new position in shares of Cardinal Health in the third quarter valued at approximately $33,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of Cardinal Health in the third quarter worth approximately $47,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAH. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Morgan Stanley boosted their price target on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Finally, Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Trading Down 0.6 %

Shares of CAH opened at $126.27 on Friday. The firm has a market cap of $30.56 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. The company’s 50-day moving average price is $120.75 and its 200 day moving average price is $111.81. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $127.27.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same period in the prior year, the business posted $1.73 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were paid a $0.5056 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.60%. Cardinal Health’s payout ratio is presently 39.30%.

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.