Public Employees Retirement Association of Colorado Trims Holdings in Cardinal Health, Inc. (NYSE:CAH)

Public Employees Retirement Association of Colorado cut its position in Cardinal Health, Inc. (NYSE:CAH) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,596 shares of the company’s stock after selling 2,021 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cardinal Health were worth $2,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Cardinal Health during the 4th quarter valued at approximately $258,499,000. California Public Employees Retirement System grew its stake in Cardinal Health by 118.9% during the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after acquiring an additional 823,520 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after purchasing an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Cardinal Health in the first quarter worth about $56,454,000. Finally, International Assets Investment Management LLC bought a new position in Cardinal Health during the fourth quarter valued at approximately $464,800,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Argus lowered their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Robert W. Baird lifted their target price on Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Finally, Evercore ISI decreased their price target on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Cardinal Health Stock Performance

Cardinal Health stock opened at $98.18 on Tuesday. The business’s 50-day simple moving average is $98.01 and its two-hundred day simple moving average is $103.54. The company has a market cap of $23.91 billion, a PE ratio of 43.64, a PEG ratio of 1.08 and a beta of 0.61. Cardinal Health, Inc. has a fifty-two week low of $85.11 and a fifty-two week high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 EPS. As a group, analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 2.06%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, July 1st. Cardinal Health’s dividend payout ratio is presently 89.78%.

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.