Gotham Asset Management LLC Sells 2,981 Shares of Cardinal Health, Inc. (NYSE:CAH)

Gotham Asset Management LLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.1% in the 4th quarter, Holdings Channel reports. The firm owned 26,634 shares of the company’s stock after selling 2,981 shares during the period. Gotham Asset Management LLC’s holdings in Cardinal Health were worth $3,150,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Cardinal Health by 1.9% during the 4th 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 in the last quarter. Invesco Ltd. grew its position in Cardinal Health by 4.6% in the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company’s stock valued at $376,396,000 after acquiring an additional 140,368 shares during the last quarter. Marshall Wace LLP raised its stake in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock worth $372,756,000 after acquiring an additional 1,913,892 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Cardinal Health by 16.2% in the fourth quarter. Northern Trust Corp now owns 3,037,849 shares of the company’s stock worth $359,286,000 after acquiring an additional 422,755 shares during the last quarter. Finally, Amundi boosted 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 in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $148.55 on Thursday. The stock’s 50 day moving average is $135.94 and its 200 day moving average is $127.06. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $154.07. The firm has a market cap of $35.46 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the previous year, the company earned $2.08 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.5107 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.38%. Cardinal Health’s payout ratio is presently 31.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CAH shares. Morgan Stanley upped their price objective on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Bank of America upped their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, April 11th. UBS Group increased their price target on Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Robert W. Baird raised their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Mizuho upped their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $146.43.

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.