Gradient Investments LLC Has $13.89 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Gradient Investments LLC lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 9.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 117,446 shares of the company’s stock after selling 11,642 shares during the quarter. Gradient Investments LLC’s holdings in Cardinal Health were worth $13,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CAH. Point72 Asset Management L.P. acquired a new position in shares of Cardinal Health during the second quarter worth approximately $90,440,000. State Street Corp increased its stake 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 purchasing an additional 627,253 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after buying an additional 346,362 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Cardinal Health by 230.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock valued at $52,819,000 after buying an additional 333,095 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Cardinal Health during the third quarter valued at about $30,820,000. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on CAH shares. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Morgan Stanley increased their price target on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Finally, Citigroup increased their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.64.

Cardinal Health Trading Down 0.3 %

Shares of NYSE CAH opened at $128.89 on Friday. The firm has a market cap of $31.19 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The stock has a fifty day simple moving average of $121.36 and a two-hundred day simple moving average of $112.92. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $129.68.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

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.