Nuveen Asset Management LLC Reduces Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Nuveen Asset Management LLC cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 11.2% in the 4th quarter, Holdings Channel reports. The firm owned 769,944 shares of the company’s stock after selling 97,232 shares during the period. Nuveen Asset Management LLC’s holdings in Cardinal Health were worth $91,061,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Rothschild Investment LLC raised its holdings in Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after purchasing an additional 79 shares in the last quarter. Private Trust Co. NA raised its holdings in Cardinal Health by 11.0% in the 4th quarter. Private Trust Co. NA now owns 930 shares of the company’s stock worth $110,000 after purchasing an additional 92 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Cardinal Health by 2.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock worth $411,000 after purchasing an additional 93 shares in the last quarter. TIAA Trust National Association raised its holdings in Cardinal Health by 4.5% in the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after purchasing an additional 94 shares in the last quarter. Finally, MWA Asset Management raised its holdings in Cardinal Health by 2.9% in the 4th quarter. MWA Asset Management now owns 3,324 shares of the company’s stock worth $393,000 after purchasing an additional 95 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the subject of several research reports. UBS Group upped their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley increased their price target on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Mizuho increased their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Finally, StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.43.

Cardinal Health Stock Performance

NYSE:CAH opened at $154.23 on Friday. The firm has a market cap of $36.81 billion, a P/E ratio of 28.77, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $154.32. The firm has a 50-day simple moving average of $137.09 and a two-hundred day simple moving average of $127.65.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Cardinal Health’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Tuesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 31.83%.

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.