By otakuyassine3@gmail.com 
New Mexico Educational Retirement Board reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 2.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,604 shares of the company’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in Cardinal Health were worth $1,372,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Bleakley Financial Group LLC lifted its stake in Cardinal Health by 6.4% in the third quarter. Bleakley Financial Group LLC now owns 4,497 shares of the company’s stock worth $497,000 after acquiring an additional 272 shares during the last quarter. Blue Trust Inc. lifted its position in Cardinal Health by 61.9% during the 3rd quarter. Blue Trust Inc. now owns 5,503 shares of the company’s stock worth $608,000 after acquiring an additional 2,103 shares during the period. Raymond James & Associates increased its stake in Cardinal Health by 7.4% in the 3rd quarter. Raymond James & Associates now owns 309,960 shares of the company’s stock valued at $34,257,000 after buying an additional 21,414 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Cardinal Health by 36.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 254,631 shares of the company’s stock worth $28,142,000 after purchasing an additional 68,382 shares in the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter worth $47,000. 87.17% of the stock is owned by institutional investors and hedge funds.
Cardinal Health Stock Performance
NYSE:CAH opened at $126.35 on Tuesday. The stock’s fifty day moving average price is $122.95 and its two-hundred day moving average price is $116.57. The company has a market cap of $30.52 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84.
Cardinal Health (NYSE:CAH – Get Free Report) last released its quarterly earnings data 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%. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.
Cardinal Health Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.60%. Cardinal Health’s payout ratio is presently 37.69%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on CAH. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Morgan Stanley increased their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group lifted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Citigroup upped their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.87.
Get Our Latest Analysis on Cardinal Health
Cardinal Health Company 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.
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