California Public Employees Retirement System Trims Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

California Public Employees Retirement System lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,151,770 shares of the company’s stock after selling 18,207 shares during the quarter. California Public Employees Retirement System’s holdings in Cardinal Health were worth $136,220,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cardinal Health by 35.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock valued at $3,871,000 after purchasing an additional 8,471 shares during the period. CHURCHILL MANAGEMENT Corp lifted its holdings in Cardinal Health by 1.5% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after buying an additional 3,576 shares in the last quarter. Geode Capital Management LLC boosted its position in Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after buying an additional 42,082 shares during the period. Consolidated Planning Corp grew its stake in Cardinal Health by 40.0% in the 4th quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock worth $1,056,000 after acquiring an additional 2,552 shares in the last quarter. Finally, Flputnam Investment Management Co. increased its position in shares of Cardinal Health by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock worth $21,358,000 after acquiring an additional 3,148 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.2 %

Shares of CAH opened at $136.43 on Monday. The firm has a market cap of $32.96 billion, a PE ratio of 25.45, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $137.18. The stock has a fifty day moving average price of $128.36 and a 200-day moving average price of $120.86.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.48%. Cardinal Health’s payout ratio is 37.69%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Citigroup lifted their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Argus set a $148.00 target price on shares of Cardinal Health 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 target for the company in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.36.

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.