Strs Ohio Lowers Holdings in Cardinal Health, Inc. (NYSE:CAH)

Strs Ohio lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,810 shares of the company’s stock after selling 6,779 shares during the quarter. Strs Ohio’s holdings in Cardinal Health were worth $2,500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at $26,000. BKM Wealth Management LLC purchased a new stake in shares of Cardinal Health during the 4th quarter valued at $30,000. Retirement Group LLC raised its position in shares of Cardinal Health by 1,539.3% during the 4th quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after buying an additional 431 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Cardinal Health during the 4th quarter valued at $41,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 2.1 %

CAH stock opened at $108.19 on Friday. The firm’s 50-day moving average price is $109.59 and its two-hundred day moving average price is $104.18. Cardinal Health, Inc. has a 12-month low of $77.56 and a 12-month high of $116.04. The stock has a market capitalization of $26.32 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 1.03 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. During the same quarter in the previous year, the company earned $1.32 earnings per share. Cardinal Health’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAH. SVB Leerink initiated coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Barclays initiated coverage on shares of Cardinal Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price on the stock. Finally, Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.07.

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.