JPMorgan Chase & Co. Sells 20,748 Shares of Cardinal Health, Inc. (NYSE:CAH)

JPMorgan Chase & Co. decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,982,009 shares of the company’s stock after selling 20,748 shares during the period. JPMorgan Chase & Co. owned approximately 1.23% of Cardinal Health worth $352,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CAH. Rothschild Investment LLC grew its stake in Cardinal Health by 10.1% in the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after purchasing an additional 79 shares during the period. Private Trust Co. NA increased its position in Cardinal Health by 11.0% during the 4th quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after buying an additional 92 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after acquiring an additional 93 shares in the last quarter. TIAA Trust National Association raised its holdings in Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after buying an additional 94 shares during the last quarter. Finally, MWA Asset Management raised its holdings in Cardinal Health by 2.9% in the 4th quarter. MWA Asset Management now owns 3,324 shares of the company’s stock worth $393,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $136.43 on Monday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $137.18. The company has a market capitalization 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. The company has a fifty day moving average of $128.36 and a 200 day moving average of $120.86.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping 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%. Analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. raised 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. Mizuho began coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price 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 issued a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health presently 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.