Bridgewater Associates LP Trims Holdings in Cardinal Health, Inc. (NYSE:CAH)

Bridgewater Associates LP reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 408,755 shares of the company’s stock after selling 56,504 shares during the period. Bridgewater Associates LP owned approximately 0.17% of Cardinal Health worth $48,343,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Cardinal Health by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company’s stock worth $691,145,000 after buying an additional 109,273 shares during the last quarter. Invesco Ltd. lifted its position in Cardinal Health by 4.6% during the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company’s stock worth $376,396,000 after acquiring an additional 140,368 shares during the period. Amundi grew its stake in shares of Cardinal Health by 5.5% in the 4th quarter. Amundi now owns 2,116,291 shares of the company’s stock valued at $259,309,000 after purchasing an additional 110,605 shares during the last quarter. Norges Bank acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $246,748,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Cardinal Health by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock worth $179,653,000 after purchasing an additional 44,386 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Up 2.3 %

NYSE:CAH opened at $134.76 on Tuesday. The firm has a market cap of $32.55 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $139.50. The company’s 50-day moving average is $129.48 and its two-hundred day moving average is $122.66.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping 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%. On average, equities research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.50%. Cardinal Health’s dividend payout ratio is presently 37.69%.

Analyst Ratings Changes

Several brokerages have issued reports on CAH. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Bank of America raised their price objective on shares of Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company increased their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley raised their target price on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four investment 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, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

Cardinal Health 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.