Maryland State Retirement & Pension System Has $1.54 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Maryland State Retirement & Pension System reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,005 shares of the company’s stock after selling 952 shares during the period. Maryland State Retirement & Pension System’s holdings in Cardinal Health were worth $1,538,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Cardinal Health by 35.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock valued at $3,871,000 after purchasing an additional 8,471 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its position in Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after buying an additional 42,082 shares during the last quarter. Consolidated Planning Corp grew its stake in shares of Cardinal Health by 40.0% during the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock worth $1,056,000 after buying an additional 2,552 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after buying an additional 33,388 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of research reports. Mizuho initiated coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Stock Down 1.0 %

CAH stock opened at $131.80 on Friday. The firm has a market cap of $31.84 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $133.67. The company’s fifty day simple moving average is $127.35 and its 200 day simple moving average is $120.00.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share 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 issued a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.53%. Cardinal Health’s dividend payout ratio is currently 37.69%.

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.