Public Employees Retirement Association of Colorado Decreases Stake in Cardinal Health, Inc. (NYSE:CAH)

Public Employees Retirement Association of Colorado trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,405 shares of the company’s stock after selling 759 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cardinal Health were worth $2,886,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Cardinal Health during the fourth quarter worth $25,347,000. Coldstream Capital Management Inc. increased its holdings in shares of Cardinal Health by 6.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 27,502 shares of the company’s stock valued at $3,253,000 after acquiring an additional 1,739 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Cardinal Health by 22.4% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,083 shares of the company’s stock worth $483,000 after acquiring an additional 748 shares in the last quarter. Burling Wealth Partners LLC purchased a new stake in Cardinal Health during the fourth quarter worth approximately $898,000. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Cardinal Health by 18.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,390 shares of the company’s stock valued at $874,000 after purchasing an additional 1,125 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH stock opened at $139.80 on Wednesday. The business’s fifty day moving average price is $131.30 and its 200 day moving average price is $124.38. The firm has a market capitalization of $33.77 billion, a PE ratio of 26.08, a P/E/G ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $140.50.

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

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

Analysts Set New Price Targets

CAH has been the subject of several recent analyst reports. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Bank of America increased their price objective on Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Morgan Stanley lifted their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $142.36.

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.