Intech Investment Management LLC Sells 68,844 Shares of Cardinal Health, Inc. (NYSE:CAH)

Intech Investment Management LLC trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 46.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,708 shares of the company’s stock after selling 68,844 shares during the period. Intech Investment Management LLC’s holdings in Cardinal Health were worth $9,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. State Street Corp boosted its holdings in shares of Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after buying an additional 627,253 shares during the period. Geode Capital Management LLC increased its position in Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares during the last quarter. Amundi lifted its stake in shares of Cardinal Health by 5.5% in the fourth quarter. Amundi now owns 2,116,291 shares of the company’s stock valued at $259,309,000 after buying an additional 110,605 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cardinal Health by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock valued at $179,653,000 after purchasing an additional 44,386 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a report on Tuesday, January 7th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $145.00 in a report on Monday, January 6th. Finally, Argus set a $148.00 price target on shares of Cardinal Health in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Trading Up 1.5 %

Shares of Cardinal Health stock opened at $129.86 on Tuesday. The firm has a market capitalization of $31.37 billion, a PE ratio of 24.23, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84. The firm’s 50-day moving average price is $126.54 and its 200 day moving average price is $119.56.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.56%. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

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.