Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Prudential PLC

Prudential PLC lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,099 shares of the company’s stock after selling 5,778 shares during the quarter. Prudential PLC’s holdings in Cardinal Health were worth $4,979,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Landscape Capital Management L.L.C. raised its holdings in shares of Cardinal Health by 446.7% in the fourth quarter. Landscape Capital Management L.L.C. now owns 12,996 shares of the company’s stock valued at $1,537,000 after buying an additional 10,619 shares during the last quarter. ExodusPoint Capital Management LP increased its holdings in shares of Cardinal Health by 25.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 201,791 shares of the company’s stock valued at $23,866,000 after purchasing an additional 41,554 shares during the period. World Investment Advisors lifted its holdings in shares of Cardinal Health by 14.0% during the fourth quarter. World Investment Advisors now owns 2,825 shares of the company’s stock worth $334,000 after purchasing an additional 348 shares during the period. Cinctive Capital Management LP increased its stake in Cardinal Health by 353.4% in the 4th quarter. Cinctive Capital Management LP now owns 144,122 shares of the company’s stock valued at $17,045,000 after buying an additional 112,333 shares during the period. Finally, Huntington National Bank raised its holdings in Cardinal Health by 1.2% during the fourth quarter. Huntington National Bank now owns 10,920 shares of the company’s stock worth $1,292,000 after purchasing an additional 128 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAH. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Tuesday, January 7th. Argus set a $148.00 target price on Cardinal Health in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.14.

Cardinal Health Trading Down 5.6 %

Shares of NYSE CAH opened at $129.37 on Friday. The business has a 50 day simple moving average of $129.15 and a 200-day simple moving average of $121.62. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $139.50. The company has a market capitalization of $31.25 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating 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%. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm 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 $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

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.