Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 7.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 20,468 shares of the company’s stock after selling 1,763 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Cardinal Health were worth $2,290,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC purchased a new position in shares of Cardinal Health during the 4th quarter worth about $25,000. Raleigh Capital Management Inc. increased its position in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in Cardinal Health during the first quarter worth approximately $32,000. LRI Investments LLC acquired a new position in shares of Cardinal Health in the 1st quarter valued at $32,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of several research reports. Argus cut their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Robert W. Baird lifted their price objective on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Citigroup dropped their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Wells Fargo & Company reduced their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Finally, Evercore ISI dropped their price objective on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $109.67.

Cardinal Health Trading Down 1.7 %

CAH stock traded down $1.79 during trading on Friday, reaching $101.60. The stock had a trading volume of 2,613,341 shares, compared to its average volume of 1,790,428. The firm has a fifty day moving average price of $98.44 and a 200 day moving average price of $103.43. The company has a market capitalization of $24.75 billion, a P/E ratio of 45.16, a PEG ratio of 1.14 and a beta of 0.61. Cardinal Health, Inc. has a 1-year low of $85.11 and a 1-year high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the prior year, the business posted $1.74 earnings per share. Cardinal Health’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.5056 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

About Cardinal Health

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.