Concurrent Investment Advisors LLC Reduces Holdings in Cardinal Health, Inc. (NYSE:CAH)

Concurrent Investment Advisors LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,779 shares of the company’s stock after selling 1,696 shares during the period. Concurrent Investment Advisors LLC’s holdings in Cardinal Health were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its position in Cardinal Health by 11.6% in the fourth quarter. Handelsbanken Fonder AB now owns 39,783 shares of the company’s stock valued at $4,705,000 after buying an additional 4,140 shares during the last quarter. LMG Wealth Partners LLC boosted its position in Cardinal Health by 0.8% in the fourth quarter. LMG Wealth Partners LLC now owns 90,807 shares of the company’s stock valued at $10,740,000 after buying an additional 756 shares during the last quarter. Ieq Capital LLC boosted its position in Cardinal Health by 42.5% in the fourth quarter. Ieq Capital LLC now owns 15,477 shares of the company’s stock valued at $1,830,000 after buying an additional 4,614 shares during the last quarter. Convergence Investment Partners LLC boosted its position in Cardinal Health by 32.0% in the fourth quarter. Convergence Investment Partners LLC now owns 33,125 shares of the company’s stock valued at $3,918,000 after buying an additional 8,023 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its position in Cardinal Health by 67.5% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,093 shares of the company’s stock valued at $1,430,000 after buying an additional 4,873 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CAH shares. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Argus set a $148.00 price objective on Cardinal Health in a research report on Tuesday, February 4th. Mizuho started coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Wells Fargo & Company upped their price objective on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Finally, Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.40.

Cardinal Health Stock Down 0.3 %

Shares of CAH opened at $126.96 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The company has a market capitalization of $30.67 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The stock has a fifty day simple moving average of $123.62 and a two-hundred day simple moving average of $117.21.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping 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 anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared 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. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 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.