Pitcairn Co. Sells 349 Shares of Cardinal Health, Inc. (NYSE:CAH)

Pitcairn Co. cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,746 shares of the company’s stock after selling 349 shares during the period. Pitcairn Co.’s holdings in Cardinal Health were worth $1,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp increased its holdings in Cardinal Health by 4.6% in the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after acquiring an additional 627,253 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cardinal Health by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company’s stock worth $691,145,000 after purchasing an additional 109,273 shares in the last quarter. Amundi raised its position in shares of Cardinal Health by 5.5% during the 4th quarter. Amundi now owns 2,116,291 shares of the company’s stock valued at $259,309,000 after purchasing an additional 110,605 shares during the period. Norges Bank purchased a new position in shares of Cardinal Health during the 4th quarter valued at $246,748,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cardinal Health by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock worth $179,653,000 after buying an additional 44,386 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $129.37 on Friday. The company has a market cap of $31.25 billion, a P/E ratio of 24.14, a P/E/G ratio of 1.49 and a beta of 0.66. The business’s 50 day moving average price is $129.15 and its 200-day moving average price is $121.55. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $139.50.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating 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%. As a group, equities analysts predict 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. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. Cardinal Health’s payout ratio is 37.69%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CAH shares. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Morgan Stanley boosted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.