MV Capital Management Inc. Trims Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

MV Capital Management Inc. lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 43.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 788 shares of the company’s stock after selling 607 shares during the period. MV Capital Management Inc.’s holdings in Cardinal Health were worth $93,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cyrus J. Lawrence LLC purchased a new stake in Cardinal Health in the fourth quarter worth about $26,000. Promus Capital LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $30,000. Lee Danner & Bass Inc. bought a new stake in Cardinal Health in the fourth quarter worth $35,000. Kentucky Trust Co purchased a new stake in shares of Cardinal Health in the fourth quarter worth $41,000. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after acquiring an additional 144 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 0.2 %

Shares of CAH stock opened at $136.43 on Friday. The company has a 50 day simple moving average of $128.36 and a two-hundred day simple moving average of $120.76. The stock has a market cap of $32.96 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $137.18.

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

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is 37.69%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup increased their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.36.

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.