Te Ahumairangi Investment Management Ltd Trims Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Te Ahumairangi Investment Management Ltd lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 21.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 29,716 shares of the company’s stock after selling 8,100 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Cardinal Health were worth $3,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Cardinal Health during the 4th quarter valued at $246,748,000. State Street Corp grew its holdings in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Cardinal Health during the 4th quarter valued at about $45,115,000. Two Sigma Advisers LP increased its position in shares of Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after buying an additional 346,362 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of Cardinal Health by 77.3% in the third quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock worth $65,539,000 after buying an additional 258,541 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $137.20 on Wednesday. The stock has a market capitalization of $33.14 billion, a P/E ratio of 25.60, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $138.62. The firm’s 50 day simple moving average is $128.78 and its two-hundred day simple moving average is $121.20.

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

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CAH shares. Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Mizuho raised their price target on Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Citigroup upped their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

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.